Just days after Payless Shoesource announced that it was closing all of its Canada stores, the Hudson’s Bay Company (HBC) has revealed that it will be closing all Home Outfitters across the country by the end of 2019.
In a release, the company said that the decision to shut down the home decor stores is part of the company’s plan to reduce costs, simplify their own business, and increase profitability.
“Further streamlining our retail portfolio enables even greater focus on our businesses with the strongest growth opportunities,” said Helena Foulkes, HBC’s Chief Executive Officer in a release.
“The divestiture of Gilt, rightsizing of Lord & Taylor, the recent merger of our European retail operations in Germany, and today’s announcement exemplify the bold strategic actions we are taking to set HBC up for long-term success.”
Home Outfitters was first created in 1999, and has 37 locations across Canada, including one in the Tillicum Shopping Centre. While the home decor store is set to shut down, nearly all locations have an HBC nearby, which accept Home Outfitters gift cards.
Meanwhile, HBC is undergoing a fleet review of its Saks OFF 5th stores. Out of their 133 locations, the company estimates that it will close 20 of them.
“We know this news is difficult for our associates,” said Foulkes. “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.”