Hudson's Bay (OTCPK:HBAYF) is making solid progress in turning around its retail operations, with Saks Fifth Avenue delivering very strong performance and other segments generally incrementally improving. This puts it on a path to approach positive cash flow in 2019 without additional real estate sales.
The joint venture and real estate transactions it has conducted in 2018 should allow it to significantly reduce its balance sheet debt by the end of the year, putting it in a stronger position to seek out maximum value for its real estate.
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