Canadaka Canadaka:
It seems they are already preparing if you read the article.
$1:
Since acquiring the Hudson's Bay Co. last August, NRDC has plowed $500 million into the stores and cut $400 million in expenses, Baker said. By boosting the stores' performance, he said, the company will also increase the value of the real estate beneath them. However, he was quick to say his investment in HBC is more than a "real estate play."
He said the company has a seven-year plan for the stores. Having spent the first year cutting costs, including eliminating 1,000 jobs, it plans to begin experimenting with a variety of initiatives aimed at boosting sales and profits.
In an unusually frank review of the retailer's performance under previous owners, Baker said the company was doing too many things just because that's the way they'd always been done.
I read the article, I also work with HBC(Zellers) on a daily basis.
They're opening new stores but that's about all that's changed.
They still operate based on the same principles, same ideals and have the same age-old system (inventory/POS) that is so beyond old, it's not even funny.
You cannot compete with the likes of Wal-Mart when your operating with a 1980's business frame of mind.
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