Hudson’s Bay To Expand European Presence

(RTTNews.com) – Hudson’s Bay Company (HBC.TO) said hat it is expanding its European presence with plans for up to 20 new stores in the Netherlands over the next 24 months. The Company has finalized and is in the process of finalizing long term leases for select, sought after locations. The first stores are expected to launch in the summer of 2017 and operate under the Hudson’s Bay banner as well as the Saks OFF 5TH banner. The expansion into the Netherlands will build on HBC Europe’s existing infrastructure and will utilize the same platforms such as information technology, procurement and digital support.
Olivier Van den Bossche, Head of HBC’s European department store business, said, “…. Our expansion is expected to result in the creation of over 2,500 store jobs, 2,500 construction jobs and 300 million Euros in capital investments, the majority of which will be funded through landlord incentives. We are committed to the Dutch marketplace and look forward to partnering with local governments to create exciting retail destinations.”
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