A popular home décor store recently revealed that it will be closing its doors across Canada.
In a recent press release, HBC (Hudson’s Bay Company) announced that all Home Outfitters stores in Canada will be closing.
The company will also be performing a ‘fleet review’ of the 133 Saks OFF 5th stores in Canada and the US. According to the release, around 20 US locations are expected to close.
These closures, according to the release, fall in line with the company’s plan to reduce costs, improve profitability, and simplify the business.
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“Further streamlining our retail portfolio enables even greater focus on our businesses with the strongest growth opportunities,” Helena Foulkes, HBC’s Chief Executive Officer, said in the release.
“We know this news is difficult for our associates,” Foulkes continued. “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.”
Home Outfitters is expected to close sometime this year.
What do you think of this closure?