Hudson’s Bay Co. Announced Closure of All Home Outfitters Stores, Could Saks Off Fifth Be Next?
With another day comes another retail news headline and today it’s all about Hudson’s Bay Company.
The famed Canadian retailer announced yesterday that they’re shuttering all Home Outfitters locations and it’s speculated that Saks Off Fifth could be next.
With 37 Home Outfitters locations across Canada, there has been no official date as to when those closures will take place or how many jobs will be lost. What we do know is that there are around 700 employees at Home Outfitters.
HBC did release a statement from their CEO, Helena Foulkes saying, “We know this news is difficult for our associates. We are grateful for their ongoing efforts to serve our customers and we will work to find opportunities within HBC for impacted team members where possible.”
What does this mean for Saks Off Fifth locations? HBC is currently coordinating a review of the 133 Saks Off Fifth stores to scope out the highest performing locations. It’s speculated that this review could result in approximately 20 stores being closed.
One thing we know for sure is that with so many Home Outfitters and Saks Off Fifth locations across the country, the sales are sure to be pretty great. Keep your eyes peeled for a #SaleSpy!
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