It’s the tip of the road for The Bay in Banff.
Canadian retailer Hudson’s Bay Firm introduced its division retailer at 125 Banff Ave. will shut its doorways in August.
It’s a call the corporate mentioned displays its imaginative and prescient for the longer term in addition to market adjustments.
“Whereas these selections are tough, they’re the fitting ones for our enterprise,” mentioned Tiffany Bourré, a spokeperson for the Hudson’s Bay Co., in an announcement despatched to CBC Information.
“We’re dedicated to treating each affiliate with respect and equity by this course of, and switch alternatives might be explored the place possible.”
Final month, the corporate introduced it was shedding two per cent of its whole workforce, estimated to be about 250 staff, in company roles largely inside Canada.
She didn’t say what number of employees might be laid off because of the Banff Avenue closure.
The Hudson Bay Firm has operated shops within the vacationer city for a minimum of 80 years. The primary division retailer opened in 1935 and was positioned at Caribou Nook on 202 Banff Ave.
That constructing is standing right this moment — it’s a mall with retail retailers and eating places.
In 1947, the corporate moved to its present location at 125 Banff Ave. and expanded in 1979. The shop covers round 20,000 sq. toes and has two ranges.
It sells all the things you’d look forward to finding at any Bay division retailer throughout Canada, together with equipment, clothes and sneakers, in addition to the enduring HBC stripes merchandise that’s turn out to be synonymous with the model.
Whereas it is probably not the most well-liked retailer it city for locals, a retail professional mentioned it’ll be missed by a selected group particularly.
“It’s a beautiful place that’s actually going to be missed by all the Japanese vacationers, as a result of it’s a vacationer retailer, it’s not likely a Bay division retailer,” mentioned Jim Danahy the CEO of CustomerLAB.
“There’s no manner that retailer was a major contributor, it was a cultural contributor … however a retailer, in a group of that dimension, just isn’t the Bay’s mannequin.”
He doubts the corporate’s whole gross sales will take successful from the closure of the Banff Avenue location, and that those that shopped there’ll simply revert to on-line purchasing.
The corporate mentioned additionally it is shutting one other Alberta retailer on the similar time — on the Londonderry Mall in northeast Edmonton.
There isn’t any phrase on what’s going to open instead of The Bay in Banff or whether or not it’ll return to the vacationer city utilizing a special retail mannequin.
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