Hudson’s Bay to sell name, stripes, brands to Canadian Tire for $30 million (www.thestar.com)

submitted 2 days ago by TheMcG@lemmy.ca to c/canada@lemmy.ca

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[-] recursive_recursion@lemmy.ca 33 points 2 days ago* (last edited 2 days ago)

Canadian Tire???????

huh I would've never imagined CT to buy Hudsons Bay

For non-Canadians, my shock comes from the fact that:

Canadian Tire (which is primarily known as the place where you get your tires changed and maybe buy home appliances) bought
- Hudsons Bay (which is primarily a retail clothing and beauty company).

It's like an ice cream company buying a travel agency; it's not impossible, it's just quite shocking if it happens.

Edit:
Oh wow I didn't realize that CT already owned companies such as SportChek and Marks🤔 TIL.

[-] stealth_cookies@lemmy.ca 38 points 2 days ago* (last edited 2 days ago)

Canadian Tire already owns SportChek and Mark's, they are already in the clothing space.

I also take issue with the description of Canadian Tire, they are a department store focusing on automotive, tools, home and garden, kitchen, and sporting goods.

Their businesses aren't that drastically different, and it sounds more like they want the brand for a smaller range of goods using HBC stripes.

[-] OminousOrange@lemmy.ca 4 points 2 days ago

And Atmosphere.

[-] 200ok@lemmy.world 8 points 2 days ago

I'm just glad it's staying in Canada

[-] UnderFreyja@lemmy.ca 17 points 2 days ago

I mean Canadian Tire is more of a general store. Hudson Bay started out as a general store and evolved to a more upper class department store. It's way classier or at least it is meant to be but I totally see the link between the two.

Also, Canadian Tire has more than just the Canadian Tire stores now, they own Mark's, Sports Chek, Helly Hansen, Sher-Wood and a couple of other sport related stores in Quebec primarily focused on Hockey, they've been slowly expanding for a couple of years.

[-] prodigalsorcerer@lemmy.ca 2 points 2 days ago

Much like HBC, Canadian Tire has a lot of overpriced retail. They don't overlap much beyond kitchenware though.

I guess this gets Canadian Tire into the full department store business like Walmart, Target, or Sears. Now they just need to start selling groceries (again).

[-] Lemmyoutofhere@lemmy.ca 2 points 2 days ago

Canadian Tire also owns Helly Hansen, Paderno and many other brands.

[-] ArdentYak@lemmy.ca 2 points 2 days ago

I'm not too surprised, but I think CT needs to be careful with how many product categories they have. Earlier this year they sold off the Helly Hanson brand ($1.3bil), so they've got a hole in their portfolio to fill during the 4-year/$2bil restructuring.