A Hudson Bay Company sign outside a store in Toronto Canada. Hudson Bay Company was the original store in North America, founded in 1670.
The Hudson’s Bay Company (HBC; French: Compagnie de la Baie d’Hudson) is a Canadian retail business group. A fur trading business for much of its existence, HBC now owns and operates retail stores in Canada and the United States. The company had sold most of its European operations by August 2019 and its remaining stores, in the Netherlands, were to be closed by the end of the year. HBC owns the Saks stores in the US; most other US operations had been sold by mid-2019 and the last remaining stores (Lord & Taylor chain) were to be sold prior to the end of 2019.
The company’s namesake business division is Hudson’s Bay, commonly referred to as The Bay (La Baie in French).[7]
After incorporation by English royal charter in 1670, the company functioned as the de facto government in parts of North America for nearly 200 years until the HBC sold the land it owned (known as Rupert’s Land) to Canada in 1869 as part of The Deed of Surrender.[8][9] During its peak, the company controlled the fur trade throughout much of the English- and later British-controlled North America. By the mid-19th century, the company evolved into a mercantile business selling a wide variety of products from furs to fine homeware in a small number of sales shops (as opposed to trading posts) across Canada.[10][11] These shops were the first step towards the department stores the company owns today.[12]
In 2008, HBC was acquired by NRDC Equity Partners, which also owns the upmarket American department store Lord & Taylor.[13] From 2008 to 2012, the HBC was run through a holding company of NRDC, Hudson’s Bay Trading Company, which was dissolved in early 2012.[14] HBC’s head office is currently located in Brampton, Ontario.[15] The company is listed on the Toronto Stock Exchange under the symbol “HBC”.