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Southgate Mall

HBC is owned by a New York based company -- NRDC Equity Partners who are nowhere near bankruptcy. They have aggressively been closing out under performing stores across their entire portfolio and converting land assets into cash. Down the chain HBC owns Saks 5th Avenue and Saks off 5th. In total the HBC parent operates over 230 stores including over 80 HBC stores in Canada. NRDC is looking to place Neiman Marcus (presently headquartered in Dallas) under the HBC brand (if the sale clears) and I am sure that when/if that happens, NRDC will "spring clean" NM the same way they did HBC. NRDC is a rather ruthless group that will squeeze every last red cent out of any brand they can grab up -- they have no concerns about retail sustainability or customer loyalty. I would look at it this way -- HBC is no longer a Canadian entity.
 
knix is now open
Uniqlo will open next Friday

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archited said:
HBC is owned by a New York based company -- NRDC Equity Partners who are nowhere near bankruptcy. They have aggressively been closing out under performing stores across their entire portfolio and converting land assets into cash. Down the chain HBC owns Saks 5th Avenue and Saks off 5th. In total the HBC parent operates over 230 stores including over 80 HBC stores in Canada. NRDC is looking to place Neiman Marcus (presently headquartered in Dallas) under the HBC brand (if the sale clears) and I am sure that when/if that happens, NRDC will "spring clean" NM the same way they did HBC. NRDC is a rather ruthless group that will squeeze every last red cent out of any brand they can grab up -- they have no concerns about retail sustainability or customer loyalty. I would look at it this way -- HBC is no longer a Canadian entity.
Click to expand...
I am concerned they may be following the Sears model - taking all the cash and valuable assets out of the old cash cow. However, it is only sustainable as long as there are valuable asset to sell. The bankruptcy part then potentially comes later, after huge cash dividends to the owners to strip out the value.
 
David A said:
I am concerned they may be following the Sears model - taking all the cash and valuable assets out of the old cash cow. However, it is only sustainable as long as there are valuable asset to sell. The bankruptcy part then potentially comes later, after huge cash dividends to the owners to strip out the value.
Click to expand...
Is NRDC Equity Partners owned in part by Amazon?

Easy enough for Amazon to control certain geographic segments of the market with high income households by buying out physical competition or killing it eg.: "Amazon is planning to combine its e-commerce supermarket brands, including Amazon brands Fresh, Whole Foods and Amazon.com into a single online cart." so says Forbes.

www.forbes.com

Amazon Revamps Grocery Business With Biggest Changes Since Acquiring Whole Foods In 2017

Six years ago, Amazon closed its $13.7 billion purchase of Whole Foods Market, by far the biggest acquisition ever for the e-commerce and cloud computing giant.
www.forbes.com www.forbes.com
 
Alo is now open

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Calendar Club has a kiosk instead of a popup-store

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New addition to the food court?

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The former Shaw space

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Hudson's Bay escalators are finally reopened! Their make-work project on these escalators should be completed (I hope)

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^ great update Mr Gronk. Swear if I had to do it all over again... I'd do everything to try and become an elevator tech. You'd never be short of work round here.
 
Now that the escalators are working again, I checked the men's section of Hudson's Bay for the first time since last winter. It hasn't changed much.
Overall, the Southgate Hudson's Bay location may be Edmonton's flagship store but it's still a bit rundown compared to flagship Hudson's Bay stores in Toronto, Montreal, Vancouver, Calgary and Victoria.
 
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