Bye Bye HBC

Last week, we popped into the Bay at Masonville in London. I wanted to see for myself what the end of a 355-year history looked like.

There were quite a few shoppers in the store. Or maybe it just felt that way because we could see each other without merchandise blocking our way.

It was sad. The sales floor was nearly empty except for clusters of items in small areas. All that was left in women’s fashion were unsaleable things. Long, sparkly dresses in hunter green with a weird flap of material on the front. A rack of jackets shaped like the number eight. Shoes too ugly to want even at 90% off.

Lots of pet beds and dog fur removers were still available. Also, plenty of air filters and fleece throws. Loads of bathing suits.

Even the cabinets, fixtures, and mannequins were for sale.

Nothing for Me, One Thing for Him

The men’s department didn’t look completely picked over yet. There were legit bargains still to be had. I bought Derek a really cool long-sleeved grey Henley shirt for less than $20.

When we checked out, I said to the harried clerk, “Sorry about your job.” He was one of 8,000 or so let go.

He waved me off. “I’m still here,” he said, not cheerfully. It was an odd response, but we also didn’t know what it was like to go through this turmoil. The Toronto Star reported designer Brian Gluckstein walked through the downtown Toronto store on the last day, in tears. It’s a rare day when an iconic brand that’s 177 years older than Canada has to fold.

I mostly shopped at the Bay online in recent years. Often, the high prices made me laugh. I don’t know how you let a company fall $1-B behind in its bills, but they did it. One retail analyst says the company built its growth on suburban shoppers. When suburbs stopped growing and new competitors came along, HBC didn’t secure its exclusive brands and compete with online shopping.

In other words, this was always going to happen. It was only a matter of when.

The Future of Retail

Canadian Tire bought the HBC brand and logo. Some predict there’ll be a little HBC section in CT stores, like the small Zellers in the Bay. A billionaire BC mall owner signed a deal to acquire 28 of its store leases. Weihong Lui wants to bring back a modernized department store.

Our family loved Eatons and to a lesser extent, Simpsons and the Bay. I can’t imagine what would create loyal in-person shoppers in his age of overnight shipping and free returns. I’m pretty sure it’s not $6,000 handbags and $700 jeans. Lui will have to do things differently. But I’m not exactly Nostradamus so we’ll just wait and see.