There's another big closure on the horizon in the retail world, because Hudson's Bay Company recently announced plans to close all Home Outfitters locations in Canada.
There are currently 37 Home Outfitters locations across the country, with just under 700 employees across all stores. It not clear how many job losses will result from the closures, as Helena Foulkes, HBC's Chief Executive Officer said in a statement, "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."
In a press release, HBC noted that most markets in which Home Outfitters operates are already served by Hudson's Bay.
While not specifically noted in the press release, Home Outfitters did not have a unique eCommerce site, which could have cut into the chain's profitability. The main offerings on Home Outfitter's website are their flyer and a store locator, and anyone looking to purchase items online would be redirected to the Hudson's Bay website, where there is some product overlap. Home Outfitters gift cards are also redeemable both online and in-store at Hudson's Bay.
No specific date was provided, but Home Outfitters is expected to close in 2019.
In addition to the announcement of Home Outfitter's closure, HBC announced plans to perform a fleet review of all 133 Saks OFF 5TH locations. The company currently estimates the closure of up to 20 locations in the U.S., and not immediately clear if any of the Canadian locations will be impacted.