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Thread: HBC reports $226 million loss

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    Default HBC reports $226 million loss

    HBC reports $226 million loss for their most recently reported quarter and $161 million loss on the previous quarter, https://ca.finance.yahoo.com/amphtml...133934950.html

    Now I would have to assume that their employees have been paid so who exactly is holding the bag on 6 months worth of losses totalling $397 million? Are suppliers not being paid? If the HBC bubble bursts then who is going to take the hit with these losses?
    Will fuck off, again.

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    Pensions evaporate, thier suppliers don't get paid, bind holders etc....
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    It’s paid out of their credit/debt facility. Same as every other company that posts a net loss for a quarter.

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    Yeah I don’t get it... if they continue to struggle it will go private, restructured... assets sold off, etc, etc. Life will continue. They’re a big retail dinosaur. One of the last major department store giants existing in a digital world

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    Too bad these retail giants couldn't see the writing on the wall and restructure into a niche store.

    I wonder if Beaver Pelts still have a market.

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    HBC is slowly evolving towards digital. Their online store isn’t great but I’ve bought more from them online than in person in the last 2 years. Only reason I put up with their shitty online store is because of heavy discounts. It’s not the end of the world for brick and mortar if they can transition quickly. Look at the turnaround that Target (US) has done. Record year for them this year. Go to a target store in the US and it looks completely different than the old bare minimum looks like it’s about to go out of business setups of yesterday.
    Originally posted by SEANBANERJEE
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    Quote Originally Posted by rage2 View Post
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    HBC is slowly evolving towards digital. Their online store isn’t great but I’ve bought more from them online than in person in the last 2 years. Only reason I put up with their shitty online store is because of heavy discounts. It’s not the end of the world for brick and mortar if they can transition quickly. Look at the turnaround that Target (US) has done. Record year for them this year. Go to a target store in the US and it looks completely different than the old bare minimum looks like it’s about to go out of business setups of yesterday.
    What's a baller guy like you doing in a Target store?
    Will fuck off, again.

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    Quote Originally Posted by speedog View Post
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    What's a baller guy like you doing in a Target store?
    iTunes gift cards.
    Originally posted by SEANBANERJEE
    I have gone above and beyond what I should rightfully have to do to protect my good name

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    HBC has been losing $500M each of the past 3 years so its nothing new. It's been in the news recently because of the fight to go private. Calling the company HBC is kind of misleading as most of their operations are US based in the form of Saks and a few other brands. They have plenty of cash to blow thru with the recent $1.5B sale of their European joint venture. The chairman and/or private funds will plunder the company for the real estate before it goes under. There's so much real estate value in the most prime downtown locations in so many major markets and that's essentially what the going private fight is all about. CEO said last year real estate alone is worth $25/share or higher but another assessment this year just prior to the private takeover offer said just $10/share. They flat out own the flagship Saks 5th Ave store in midtown Manhattan which alone was valued at $15/share back in 2013 and NYC real estate has only gone up since then.

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    https://www.maxim.com/sports/shaq-wa...eclined-2018-4

    I always wondered if there was such a thing as baller toiletpaper.
    0.5 gram microsd delivered by 12,000 pound combustion vehicle and driver.

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    Quote Originally Posted by rage2 View Post
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    iTunes gift cards.
    Aren't you supposed to be paying your delinquent tax and/or utility account with those?
    Will fuck off, again.

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    Quote Originally Posted by speedog View Post
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    Aren't you supposed to be paying your delinquent tax and/or utility account with those?
    Why do you think I'm buying them? I'm speedog old now, prime target by the CRA phone staff.
    Originally posted by SEANBANERJEE
    I have gone above and beyond what I should rightfully have to do to protect my good name

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    Quote Originally Posted by speedog View Post
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    HBC reports $226 million loss for their most recently reported quarter and $161 million loss on the previous quarter, https://ca.finance.yahoo.com/amphtml...133934950.html

    Now I would have to assume that their employees have been paid so who exactly is holding the bag on 6 months worth of losses totalling $397 million? Are suppliers not being paid? If the HBC bubble bursts then who is going to take the hit with these losses?
    It's going down the same road as Sears. Not sure what kind of pension HBC employees get but if it's not funded separately in a different entity, it's going to go down in flames when it packs up.

    CEO is poisoning the well for it to be snatched up on the cheap to go private and then profit off asset sales.

    He has no plan to turn it around.

    https://www.bnnbloomberg.ca/hbc-sale...-bid-1.1360347

    • Hudson’s Bay, which supports the deal led by Baker and his allies, is trying to convince shareholders to vote in favour on Dec. 17. Private-equity firm Catalyst Capital Group Inc., which owns a 17.5 per cent stake and put forth a higher proposal that was rejected, wants to block the sale.
    Last edited by Xtrema; 12-11-2019 at 12:26 PM.

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