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Canada's Hudson's Bay to take over 20 Dutch department stores

Published 2016-05-17, 02:43 a/m
© Reuters. Canada's Hudson's Bay to take over 20 Dutch department stores
HBC
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AMSTERDAM, May 17 (Reuters) - Hudson's Bay Co. HBC.TO of
Canada will expand in Europe by taking over 20 department stores
in the Netherlands, it said on Tuesday.
It is in the final stage of talks about leasing prime
locations of the oldest Dutch department store chain V&D, which
went bankrupt in December.
The Canadian company reported retail sales of C$4.49 billion
in its most recent quarter, up from C$2.63 billion a year
earlier, helped by its 2.8 billion euro acquisition of German
department store operator Kaufhof.
Hudson's Bay expects its first Dutch store to open in the
summer of 2017.

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