Hudson's Bay (OTCPK:HBAYF) has made some progress in terms of reducing its cash burn, which is important to help preserve its large amount of real estate value. It is rationalising unprofitable locations and has also paid down a fair amount of its debt (with its Saks mortgage representing the majority of its remaining debt). However, it still has some challenges with its Canadian operations running into some issues and its Lord & Taylor banner continuing to producing negative comps.
Hudson's Bay trades as HBC on the Toronto Stock Exchange. It reports in Canadian