Global Markets: Hudson’s Bay to shutter more stores

By Dave Sims, Commodity News Service Canada

WINNIPEG, June 5 (CNS) – One of Canada’s biggest retailers
will close 10 of its stores as the company grapples with fiscal
challenges. Hudson’s Bay Company said Tuesday it will shutter 10
Lord & Taylor stores after it posted a C$400 million loss in its
most recent quarter. The move comes just a day after HBC agreed
to sell online retailer Gilt.com, to a rival company.
The executive chairman of the world’s largest coffee

company is stepping down. Howard Schultz served as the CEO of
Starbucks from 1986-2000 and again from 2008-2017 and was its
executive chairman from 2017 to 2018. He is credited with
helping transform the Seattle-based barista into one of the
world’s most recognizable corporate chains. The company named
Myron Ullman as his replacement.
Prime Minister Justin Trudeau will sit down with First
Nations leaders in British Columbia today, to discuss the Trans
Mountain pipeline expansion. Many Aboriginal groups in the
province oppose expansion of the pipeline, and want assurances
it will not go ahead without their approval. Still, some First
Nations are openly supporting the C$7.4 billion project and the
financial benefits it offers.

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