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Hudson's Bay Company

March 25, 2023

For other uses, see Hudson's Bay (disambiguation).

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, it became the largest and oldest corporation in Canada, and now owns and operates retail stores across the country.[2][3] The company's namesake business division is Hudson's Bay, commonly referred to as The Bay (La Baie in French).[4]

Hudson's Bay Company
Compagnie de la Baie d'Hudson
TypePrivate
IndustryRetail
Founded2 May 1670; 352 years ago (2 May 1670)
London, England
Headquarters401 Bay St., Suite 500
Toronto, Ontario, M5H 2Y4 Canada
Key people
Richard Baker
(governor, executive chairman and CEO)
Revenue CA$9.4 billion (2018)
CA$−631 million (2018)
OwnerNRDC Equity Partners (48%)
Number of employees
30,000 (2017)[1]
Divisions
Websitehbc.com

After incorporation by English royal charter in 1677, 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 (the entire Hudson Bay drainage basin, known as Rupert's Land) to Canada in 1869 as part of the Deed of Surrender,[5][6] authorized by the Rupert's Land Act 1868. At 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.[7][8] These shops were the first step towards the department stores the company owns today.[9]

In 2006, an American businessman, Jerry Zucker, bought HBC for US$1.1 billion. In 2008, HBC was acquired by NRDC Equity Partners, which also owned the upmarket American department store Lord & Taylor.[10] 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.[11] HBC's Canadian headquarters are located in Toronto[12] and its U.S. headquarters are in New York.[13] The company spun off most of its European operations by August 2019 and its remaining stores there, in the Netherlands, were sold by the end of 2019.

Until March 2020, the company was listed on the Toronto Stock Exchange under the symbol "HBC.TO" until Richard Baker and a group of shareholders took the company private.[14] HBC is, as of 2022, the majority owner of eCommerce companies Saks[15] and Saks Off 5th,[16] both established as separate operating companies in 2021.[16][17] HBC wholly owns SFA, the entity that operates Saks Fifth Avenue's physical locations;[18] O5, the operating company for Saks Off 5th stores;[19] The Bay, an eCommerce marketplace and Hudson's Bay, the operating company for Hudson's Bay's brick-and-mortar stores.[19][20]

HBC owns or controls approximately 3.7 million square metres (40 million square feet) of gross leasable real estate[21] through its real estate and investment arm, HBC Properties and Investments, established in October 2020.[22][23]

History

17th century

 
Rupert's Land, an area that encompasses the drainage basin of the Hudson Bay

For much of the 17th century the French colonists in North America based in New France, operated a de facto monopoly in the North American fur trade. Two French traders, Pierre-Esprit Radisson and Médard des Groseilliers (Médard de Chouart, Sieur des Groseilliers), Radisson's brother-in-law, learned from the Cree that the best fur country lay north and west of Lake Superior, and that there was a "frozen sea" still further north.[24] Assuming this was Hudson Bay, they sought French backing for a plan to set up a trading post on the Bay in order to reduce the cost of moving furs overland. According to Peter C. Newman, "concerned that exploration of the Hudson Bay route might shift the focus of the fur trade away from the St. Lawrence River, the French governor", Marquis d'Argenson (in office 1658–61), "refused to grant the coureurs des bois permission to scout the distant territory".[24] Despite this refusal, in 1659 Radisson and Groseilliers set out for the upper Great Lakes basin. A year later they returned to Montreal with premium furs, evidence of the potential of the Hudson Bay region. Subsequently, they were arrested by French authorities for trading without a license and fined, and their furs were confiscated by the government.[25]

Determined to establish trade in the Hudson Bay area, Radisson and Groseilliers approached a group of English colonial merchants in Boston, Massachusetts to help finance their explorations. The Bostonians agreed on the plan's merits, but their speculative voyage in 1663 failed when their ship ran into pack ice in Hudson Strait. Boston-based English commissioner Colonel George Cartwright learned of the expedition and brought the two to England to raise financing.[24] Radisson and Groseilliers arrived in London in 1665 at the height of the Great Plague. Eventually, the two met and gained the sponsorship of Prince Rupert. Prince Rupert introduced the two to his cousin, the reigning king – Charles II.[26] In 1668 the English expedition acquired two ships, the Nonsuch and the Eaglet, to explore possible trade into Hudson Bay. Groseilliers sailed on the Nonsuch, commanded by Captain Zachariah Gillam, while the Eaglet was commanded by Captain William Stannard and accompanied by Radisson. On 5 June 1668, both ships left port at Deptford, England, but the Eaglet was forced to turn back off the coast of Ireland.[25][27]

The Nonsuch continued to James Bay, the southern portion of Hudson Bay, where its explorers founded, in 1668, the first fort on Hudson Bay, Charles Fort[28] at the mouth of the Rupert River. It later became known as "Rupert House", and developed as the community of present-day Waskaganish, Quebec. Both the fort and the river were named after the sponsor of the expedition, Prince Rupert of the Rhine, one of the major investors and soon to become the new company's first governor. After a successful trading expedition over the winter of 1668–69, Nonsuch returned to England on 9 October 1669 with the first cargo of fur resulting from trade in Hudson Bay.[25] The bulk of the fur – worth £1,233 – was sold to Thomas Glover, one of London's most prominent furriers. This and subsequent purchases by Glover proved the viability of the fur trade in Hudson Bay.[29]

 
Depiction of the first sale of Hudson's Bay fur at Garraway's Coffee House in London, 1671

A royal charter from King Charles II incorporated "The Governor and Company of Adventurers of England, trading into Hudson's Bay" on 2 May 1670.[5] The charter granted the company a monopoly over the region drained by all rivers and streams flowing into Hudson Bay in northern parts of present-day Canada. The area was named "Rupert's Land"[30] after Prince Rupert,[31] the first governor of the company appointed by the King. This drainage basin of Hudson Bay spans 3,861,400 square kilometres (1,490,900 sq mi),[32] comprising over one-third of the area of modern-day Canada, and stretches into the present-day north-central United States. The specific boundaries remained unknown at the time. Rupert's Land would eventually become Canada's largest land "purchase" in the 19th century.[33]

The HBC established six posts between 1668 and 1717. Rupert House[34](1668, southeast), Moose Factory[35] (1673, south) and Fort Albany,[36] Ontario (1679, west) were erected on James Bay; three other posts were established on the western shore of Hudson Bay proper: New Severn (1685),[37] York Factory (1684) and Fort Churchill (1717). Inland posts were not built until 1774. After 1774, York Factory became the main post because of its convenient access to the vast interior waterway-systems of the Saskatchewan and Red rivers. Originally called "factories" because the "factor", i.e., a person acting as a mercantile agent, did business from there, these posts operated in the manner of the Dutch fur-trading operations in New Netherland. By adoption of the Standard of Trade in the 18th century, the HBC ensured consistent pricing throughout Rupert's Land. A means of exchange arose based on the "Made Beaver" (MB); a prime pelt, worn for a year and ready for processing: "the prices of all trade goods were set in values of Made Beaver (MB) with other animal pelts, such as squirrel, otter and moose quoted in their MB (made beaver) equivalents. For example, two otter pelts might equal 1 MB".[38]

 
Trading at an HBC trading post

During the fall and winter, First Nations men and European trappers accomplished the vast majority of the animal trapping and pelt preparation. They travelled by canoe and on foot to the forts to sell their pelts. In exchange they typically received popular trade-goods such as knives, kettles, beads, needles, and the Hudson's Bay point blanket. The arrival of the First Nations trappers was one of the high points of the year, met with pomp and circumstance. The highlight was very formal, an almost ritualized "Trading Ceremony" between the Chief Trader and the Captain of the aboriginal contingent who traded on their behalf.[39] During the initial years of the fur trade, prices for items varied from post to post.[40]

The early coastal factory model of the English contrasted with the system of the French, who established an extensive system of inland posts at native villages and sent traders to live among the tribes of the region, learning their languages and often forming alliances through marriages with indigenous women. In March 1686 the French sent a raiding party under the Chevalier des Troyes more than 1,300 km (810 mi) to capture the HBC posts along James Bay. The French appointed Pierre Le Moyne d'Iberville, who had shown great heroism during the raids, as commander of the company's captured posts. In 1687 an English attempt to resettle Fort Albany failed due to strategic deceptions by d'Iberville. After 1688 England and France were officially at war, and the conflict played out in North America as well. D'Iberville raided Fort Severn in 1690 but did not attempt to raid the well-defended local headquarters at York Factory. In 1693 the HBC recovered Fort Albany; d'Iberville captured York Factory in 1694, but the company recovered it the next year.[41]: 151–158 

 
Depiction of the capture of York Factory by French forces in 1694

In 1697 d'Iberville again commanded a French naval raid on York Factory. On the way to the fort he defeated three ships of the Royal Navy in the Battle of Hudson's Bay (5 September 1697), the largest naval battle in the history of the North American Arctic. D'Iberville's depleted French force captured York Factory by laying siege to the fort and pretending to be a much larger army. The French retained all of the outposts except Fort Albany until 1713. (A small French and Indian force attacked Fort Albany again in 1709 during Queen Anne's War but was unsuccessful. The economic consequences of the French possession of these posts for the company were significant; the HBC did not pay any dividends for more than 20 years. See Anglo-French conflicts on Hudson Bay.[41]: 160–164 

18th century

With the ending of the Nine Years' War in 1697, and the War of the Spanish Succession in 1713 with the signing of the Treaty of Utrecht, France had made substantial concessions. Among the treaty's many provisions, it required France to relinquish all claims to Great Britain on the Hudson Bay, which again became a British possession.[42] (The Kingdom of Great Britain had been established following the union of Scotland and England in 1707).

After the treaty, the HBC built Prince of Wales Fort, a stone star fort at the mouth of the nearby Churchill River.[41]: 202–206 In 1782, during the American Revolutionary War, a French squadron under Jean-François de Galaup, comte de Lapérouse captured and demolished York Factory and Prince of Wales Fort in support of the American rebels.[41]: 366–371 

 
Depiction of an Indigenous woman wearing a Hudson's Bay point blanket, c. 1850

In its trade with native peoples, Hudson's Bay Company exchanged wool blankets, called Hudson's Bay point blankets, for the beaver pelts trapped by aboriginal hunters. By 1700, point blankets accounted for more than 60 per cent of the trade.[43] The number of indigo stripes (a.k.a. points) woven into the blankets identified its finished size. A long-held misconception is that the number of stripes was related to its value in beaver pelts.[44]

A parallel may be drawn between the HBC's control over Rupert's Land with the trade monopoly and government functions enjoyed by the East India Company over India during roughly the same period. The HBC invested £10,000 in the East India Company in 1732, which it viewed as a major competitor.[45]

Hudson's Bay Company's first inland trading post was established by Samuel Hearne in 1774 with Cumberland House, Saskatchewan.[46][47]

Conversely, a number of inland HBC "houses" pre-date the construction of Cumberland House, in 1774. Henley House, established in 1743, inland from Hudson Bay, at the confluence of the Albany and Kabinakagami Rivers, was dependent on Albany River – Fort Albany for lines of communication, was not "finished" until 1768.[48] Next, the inland houses of Split Lake and Nelson Houses were established between 1740 and 1760. These were dependent on York River – York Factory and Churchill River, respectively. Although not inland, Richmond Fort was established in 1749. This was on an island within Hudson Bay. It was titled a "New Discovery" in 1749, and by 1750 was titled Richmond Gulf. The name was changed to Richmond Fort and given the abbreviation RF from 1756 to 1759, it served mainly as a trade goods and provisions storage location.[49] Additional inland posts were Capusco River and Chickney Creek, both circa 1750. Likewise, Brunswick (1776), New Brunswick (1777), Gloucester (1777), Upper Hudson (ca. 1778), Lower Hudson (1779), Rupert, and Wapiscogami Houses were established in the decade of the 1770s.[50][51][52][53][54] These post-date Cumberland House, yet speak to the expanding inland incursion of the HBC in the last quarter of the 18th century. Minor posts also during this time period include Mesackamy/Mesagami Lake (1777), Sturgeon Lake (1778), Beaver Lake Posts.[55][56]

In 1779, other traders founded the North West Company (NWC) in Montreal as a seasonal partnership to provide more capital and to continue competing with the HBC. It became operative for the outfit of 1780 and was the first joint-stock company in Canada and possibly North America. The agreement lasted one year. A second agreement established in 1780 had a three-year term. The company became a permanent entity in 1783.[57] By 1784, the NWC had begun to make serious inroads into the HBC's profits.[58]

19th century

 
Depiction of the Battle of Seven Oaks, a violent confrontation between HBC and the North West Company during the Pemmican War

The North West Company (NWC) was the main rival in the fur trade. The competition led to the small Pemmican War in 1816. The Battle of Seven Oaks on 19 June 1816 was the climax of the long dispute.[59] In 1821, the North West Company of Montreal and Hudson's Bay Company were forcibly merged by intervention of the British government to put an end to often-violent competition. 175 posts, 68 of them the HBC's, were reduced to 52 for efficiency and because many were redundant as a result of the rivalry and were inherently unprofitable.[60] Their combined territory was extended by a licence to the North-Western Territory, which reached to the Arctic Ocean in the north and, with the creation of the Columbia Department in the Pacific Northwest, to the Pacific Ocean in the west. The NWC's regional headquarters at Fort George (Fort Astoria) was relocated to Fort Vancouver on the north bank of the Columbia River; it became the HBC base of operations on the Pacific Slope.[61]: 369–370 

Before the merger, the employees of the HBC, unlike those of the North West Company, did not participate in its profits. After the merger, with all operations under the management of Sir George Simpson (1826–60), the company had a corps of commissioned officers: 25 chief factors and 28 chief traders, who shared in the company's profits during the monopoly years. Its trade covered 7,770,000 km2 (3,000,000 sq mi), and it had 1,500 contract employees.[62]

 
Currency issued by the Hudson's Bay Company, 1820

Between 1820 and 1870, the HBC issued its own paper money. The notes, denominated in sterling, were printed in London and issued at York Factory for circulation primarily in the Red River Colony.[63]

Competition and exploration

Although the HBC maintained a monopoly on the fur trade during the early to mid-19th century, there was competition from James Sinclair and Andrew McDermot (Dermott), independent traders in the Red River Colony. They shipped furs by the Red River Trails to Norman Kittson,[64] a buyer in the United States. In addition, Americans controlled the maritime fur trade on the Northwest Coast until the 1830s.[65]

Throughout the 1820s and the 1830s, the HBC controlled nearly all trading operations in the Pacific Northwest region and was based at its headquarters at Fort Vancouver, on the Columbia River.[66] Although claims to the region were by agreement in abeyance, commercial operating rights were nominally shared by the United States and Britain through the Anglo-American Convention of 1818, but company policy, enforced via Chief Factor John McLoughlin of the company's Columbia District, was to discourage U.S. settlement of the territory. The company's effective monopoly on trade virtually forbade any settlement in the region.[61]: 370  It established Fort Boise in 1834 (in present-day southwestern Idaho) to compete with the American Fort Hall, 483 km (300 mi) to the east. In 1837, it purchased Fort Hall, also along the route of the Oregon Trail. The outpost director displayed the abandoned wagons of discouraged settlers to those seeking to move west along the trail.[67]

 
Hudson's Bay Company officials in an express canoe crossing a lake, 1825

HBC trappers were deeply involved in the early exploration and development of Northern California. Company trapping brigades were sent south from Fort Vancouver, along what became known as the Siskiyou Trail, into Northern California as far south as the San Francisco Bay Area, where the company operated a trading post at Yerba Buena (San Francisco). These trapping brigades in Northern California faced serious risks, and were often the first to explore relatively uncharted territory. They included the lesser known Peter Skene Ogden and Samuel Black.[68][69]

It also operated a store in what were then known as the Sandwich Islands (now Hawai'i), engaging in merchant shipping to the islands between 1828 and 1859.[70]

The company's stranglehold on the region was broken by the first successful large wagon train to reach Oregon in 1843, led by Marcus Whitman. In the years that followed, thousands of emigrants poured into the Willamette Valley of Oregon. In 1846, the United States acquired full authority south of the 49th parallel; the most settled areas of the Oregon Country were south of the Columbia River in what is now Oregon. McLoughlin, who had once turned away would-be settlers when he was company director, then welcomed them from his general store at Oregon City. He later became known as the "Father of Oregon."[71] The company retains no presence today in the portion of the Pacific Northwest governed by the United States.

End of monopoly

 
A section of a map showing the routes explored during the Palliser expedition

The Guillaume Sayer trial in 1849 contributed to the end of the HBC monopoly. Guillaume Sayer, a Métis trapper and trader, was accused of illegal trading in furs. The Court of Assiniboia brought Sayer to trial, before a jury of HBC officials and supporters. During the trial, a crowd of armed Métis men led by Louis Riel Sr. gathered outside the courtroom. Although Sayer was found guilty of illegal trade, having evaded the HBC monopoly, Judge Adam Thom did not levy a fine or punishment. Some accounts attributed that to the intimidating armed crowd gathered outside the courthouse. With the cry, "Le commerce est libre! Le commerce est libre!" ("Trade is free! Trade is free!"), the Métis loosened the HBC's previous control of the courts, which had enforced their monopoly on the settlers of Red River.[citation needed]

Another factor was the findings of the Palliser Expedition of 1857 to 1860, led by Captain John Palliser. He surveyed the area of the prairies and wilderness from Lake Superior to the southern passes of the Rocky Mountains. Although he recommended against settlement of the region, the report sparked a debate. It ended the myth publicized by Hudson's Bay Company: that the Canadian West was unfit for agricultural settlement.[citation needed]

In 1863, the International Financial Society bought controlling interest in the HBC, signalling a shift in the company's outlook: most of the new shareholders were less interested in the fur trade than in real estate speculation and economic development in the West. The Society floated £2 million in public shares on non-ceded land held ostensibly by the Hudson's Bay Company as an asset and leveraged this asset for collateral for these funds. These funds allowed the Society the financial means to weather the financial collapse of 1866 which destroyed many competitors and invest in railways in North America.[72]

 
Map of British North America in 1870, prior to HBC ceding Rupert's Land and the North-Western Territory to Canada

In 1869, after rejecting the American government offer of CA$10 million,[73] the company approved the return of Rupert's Land to Britain. The government gave it to Canada and loaned the new country the £300,000 required to compensate HBC for its losses.[6] HBC also received one-twentieth of the fertile areas to be opened for settlement and retained title to the lands on which it had built trading establishments.[74] The deal, known as the Deed of Surrender, came into force the following year. The resulting territory, the North-West Territories, was brought under Canadian jurisdiction under the terms of the Rupert's Land Act 1868, enacted by the Parliament of the United Kingdom. The Deed enabled the admission of the fifth province, Manitoba, to the Confederation on 15 July 1870, the same day that the deed itself came into force.[6]

During the 19th century the Hudson's Bay Company went through great changes in response to such factors as growth of population and new settlements in part of its territory, and ongoing pressure from Britain. It seemed unlikely that it would continue to control the future of the West.[75]

Shift to department stores

See also: Hudson's Bay (department store)
 
An HBC store in Vancouver, c. 1890s

The iconic department store today evolved from trading posts at the start of the 19th century, when they began to see demand for general merchandise grow rapidly. HBC soon expanded into the interior and set-up posts along river settlements that later developed into the modern cities of Winnipeg, Calgary and Edmonton. In 1857, the first sales shop was established in Fort Langley. This was followed by other sales shops in Fort Victoria (1859), Winnipeg (1881), Calgary (1884), Vancouver (1887), Vernon (1887), Edmonton (1890), Yorkton (1898), and Nelson (1902). The first of the grand "original six" department stores was built in Calgary in 1913. The other department stores that followed were in Edmonton, Vancouver, Victoria, Saskatoon, and Winnipeg.[8][76]

20th century

The First World War interrupted a major remodelling and restoration of retail trade shops planned in 1912. Following the war, the company revitalized its fur-trade and real-estate activities, and diversified its operations by venturing into the oil business.[7][77] The company co-founded Hudson's Bay Oil and Gas Company (HBOG) in 1926 with Marland Oil Company (which merged with Conoco in 1929). Although the company diversified into a number of areas, its department store business is the only remaining part of the company's operations, in the form of department stores under the Hudson's Bay brand.[9] The company also established new trading posts in the Canadian Arctic.

Indigenous health

The medical scientist Frederick Banting was travelling in the Arctic in 1927 when he realized that crew or passengers on board the HBC paddle wheeler SS Distributor were responsible for spreading the influenza virus down the Slave River and Mackenzie River. Less than a decade after the 1918 global flu pandemic, a similar virus spread territory-wide over the summer and autumn, devastating the aboriginal population of the north.[78][79] Returning from the trip, Banting gave an interview in Montreal with a Toronto Star reporter under the agreement that his statements on HBC would remain off the record.[78] The newspaper nonetheless published the conversation, which rapidly reached a wide audience across Europe and Australia.[78][80] Banting was angry at the leak, having promised the Department of the Interior not to make any statements to the press prior to clearing them.[80]

The article noted that Banting had given the journalist C. R. Greenaway repeated instances of how the fox fur trade always favoured the company: "For over $100,000 of fox skins, he estimated that the Eskimos had not received $5,000 worth of goods."[80] He traced this treatment to health, consistent with reports made in previous years by RCMP officers, suggesting that "the result was a diet of 'flour, sea-biscuits, tea and tobacco,' with the skins that once were used for clothing traded merely for 'cheap whiteman's goods.'"[80]

The HBC fur trade commissioner called Banting's remarks "false and slanderous", and a month later, the governor and general manager met Banting at the King Edward Hotel to demand a retraction.[78][80] Banting stated that the reporter had betrayed his confidence, but did not retract his statement and reaffirmed that HBC was responsible for the death of indigenous residents by supplying the wrong kind of food and introducing diseases into the Arctic.[78] As A. Y. Jackson, the Group of Seven painter with whom Banting was travelling, noted in his memoir that since neither the governor nor the general manager had been to the Arctic, the meeting ended with them asking Banting's advice on what HBC ought to do: "He gave them some good advice and later he received a card at Christmas with the Governor's best wishes."[78]

Banting maintained this position in his report to the Department of the Interior:[80]

He noted that "infant mortality was high because of the undernourishment of the mother before birth"; that "white man’s food leads to decay of native teeth"; that "tuberculosis has commenced. Saw several cases at Godhavn, Etah, Port Burwell, Arctic Bay"; that "an epidemic resembling influenza killed a considerable proportion of population at Port Burwell"; and that "the gravest danger faces the Eskimo in his transfer from a race-long hunter to a dependent trapper. White flour, sea-biscuits, tea and tobacco do not provide sufficient fuel to warm and nourish him". Furthermore, he discouraged the establishment of an Arctic hospital. The "proposed hospital at Pangnirtung would be a waste of money, as it could be reached by only a few natives". Banting's report contrasted starkly with the bland descriptions provided by the ship's physician, F. H. Stringer.

Latter 20th century

 
Hudson's Bay Montreal Downtown. Originally the flagship store for Morgan's, the department store chain was acquired by HBC in 1960.

In 1960, the company acquired Morgan's allowing it to expand into Montreal, Toronto, Hamilton, and Ottawa. In 1965, HBC rebranded its department stores as The Bay.[81] The Morgan's logo was changed to match the new visual identity. By 1972 the last of the former Morgan's stores had been rebranded to Bay stores.[82] HBOG also expanded during the 1960s, as it began shipping Canadian crude through a new link to the Glacier pipeline and on to the refinery in Billings, Montana. The company became the sixth-largest Canadian oil producer in 1967.[83]

In 1970, on the company's 300th anniversary, as a result of punishing new British tax laws, the company relocated to Canada, and was rechartered as a Canadian business corporation under Canadian law,[84] Head Office functions were transferred from London to Winnipeg. By 1974, as the company expanded into eastern Canada, head office functions were moved to Toronto.

In 1972, the company acquired the four-store Shop-Rite chain of catalogue stores. The chain was quickly expanded to 65 stores in Ontario, but closed in 1982 due to declining sales.[85] In these stores, little merchandise was displayed; customers made their selections from catalogues, and staff would retrieve the merchandise from storerooms. The HBC also acquired Freimans department stores in Ottawa and converted them to The Bay.[86]

In 1973, HBOG acquired a 35 per cent stake in Siebens Oil and Gas, and, in 1979, it divested that interest. In 1980, it bought a controlling interest in Roxy Petroleum.

 
The Bay Queen Street in Toronto. It was formerly the flagship store for Simpson's before HBC converted it to Hudson Bay in 1991.

In 1978, the Zellers discount store chain made a bid to acquire the HBC, but the HBC turned the tables and acquired Zellers.[87] Also in 1978, Simpson's department stores were acquired by Hudson's Bay Company, and were converted to Bay stores in 1991.[88] (The related chain Simpsons-Sears was not acquired by the Bay, but became Sears Canada in 1978.) In 1991, Simpsons disappeared, when the last Simpsons store was converted to the Bay banner.[89]

In 1979, Canadian billionaire Kenneth Thomson won control of the company in a battle with George Weston Limited, and acquired a 75 per cent stake for $400 million.[90] Thomson sold the company's oil and gas business, financial services, distillery, and other interests for approximately $550 million, transforming the company into a leaner, more focused operation. In the 1980s, sales and oil prices slipped, while debt from acquisitions piled up which led to Hudson's Bay Company selling its 10.1 per cent stake in HBOG to Dome Petroleum in 1981.[91] In 1997, the Thomson family sold the last of its remaining shares.[90]

Hudson's Bay Company reversed a formidable debt problem in 1987, by shedding non-strategic assets such as its wholesale division and getting completely out of the oil and gas business. HBC also sold its Canadian fur-auction business to Hudson's Bay Fur Sales Canada (now North American Fur Auctions). The Northern Stores Division was sold that same year to a group of investors and employees, which adopted The North West Company name three years later.[92]

The HBC acquired Towers Department Stores in 1990, combining them with the Zellers chain, and Woodward's stores in 1993, converting them into Bay or Zellers stores. Kmart Canada was acquired in 1998 and merged with Zellers.[92]

In 1991, the Bay agreed to stop retailing fur in response to complaints from people opposed to killing animals for this purpose.[93] In 1997, the Bay reopened its fur salons to meet the demand of consumers.[93]

21st century

In December 2003, Maple Leaf Heritage Investments, a Nova Scotia-based company created to acquire shares of Hudson's Bay Company, announced that it was considering making an offer to acquire all or some of the common shares of Hudson's Bay Company.[94] Maple Leaf Heritage Investments is a subsidiary of B-Bay Inc. Its CEO and chairman is American businesswoman Anita Zucker, widow of Jerry Zucker. Zucker had previously been the head of the Polymer Group, which acquired another Canadian institution, Dominion Textile.

It had been a member of the International Association of Department Stores from 2001 to 2005.[95] On 26 January 2006, the HBC's board agreed to a bid from Jerry Zucker. The South Carolina billionaire financier was a longtime HBC minority shareholder. In a 9 March 2006 press release,[96] the HBC announced that Zucker would replace Yves Fortier as governor and George Heller as CEO, becoming the first US citizen to lead the company. After Jerry Zucker's death, the board named his widow, Anita Zucker, as HBC Governor and HBC Deputy-Governor Rob Johnston as CEO.[94]

On 16 July 2008, the company was sold to NRDC Equity Partners for just over $1.1 billion,[97] a private equity firm based in Purchase, New York, which already owned Lord & Taylor, the oldest department store in the United States.[10][98] The Canadian and U.S. holdings were transferred to NRDC Equity Partners' holding company, Hudson's Bay Trading Company, as of late 2008.[99]

 
HBC's coat of arms logo (used from 2009 to 2013)[100]

In October 2012, the HBC announced a $1.6 billion initial public offering (IPO); Baker planned to use the IPO to allow Canadian ownership to return to the company, and to help pay off debts with other partners. Additionally, the company also announced that it would re-brand The Bay department store chain as "Hudson's Bay".[101] The new Hudson's Bay brand was launched in March 2013, incorporating a new logo with an updated rendition of the classic Hudson's Bay Company coat of arms, designed to be modern and better reflect the company's heritage. Following the IPO, HBC had also introduced a new corporate logo of its own (reviving a wordmark from the original HBC flag), but the new logo was not intended to be a consumer-facing brand.[102][103][104]

In January 2016, HBC announced it would expand deeper into digital space with the acquisition of an online flash sales site, the Gilt Groupe, for US$250 million.[105][106] HBC also announced its expansion into the Netherlands in May 2016 with the takeover of 20 former Vroom & Dreesmann (V&D) sites by 2017. V&D, a historic Dutch department store chain, had gone bankrupt and shut down in early 2016.[107] As of November 2017, the company also expanded retail operations into Europe, including five Saks Off Fifth stores in Germany.[108]

On 1 April 2018, HBC disclosed that more than five million credit and debit cards used for in-store purchases had been recently breached by hackers. The compromised credit card transactions took place at Saks Fifth Avenue, Saks Off 5th, and Lord & Taylor stores. The hack had been discovered by Gemini Advisory, which called the breach "amongst the biggest and most damaging to ever hit retail companies".[109] A July 2019 hack of Capital One, which provides HBC Mastercards, did not affect the HBC credit cards or card applications, according to HBC.[110]

In June 2019, a consortium including chairman Richard Baker, Rhône Group, WeWork, Hanover Investments (Luxembourg) and Abrams Capital Management announced that it wanted to take the company private.[111] The group then owned just over 50 per cent of HBC shares. In mid-August, the consortium said that it owned 57 per cent of the HBC shares. By 19 August 2019, however, Canadian investment firm Catalyst Capital Group Inc. said it had acquired enough shares to block the plan. A U.S. company, Land & Buildings Investment Management, the owner of over 6 per cent of the shares, had also criticized the Baker plan.[112][113][114] In March 2020, Baker and a group of shareholders were successful in taking the company private.[14]

Aside from Hudson's Bay, Saks Fifth Avenue, and Saks Off Fifth, HBC sold Galeria Kaufhof, Gilt Groupe, and Lord & Taylor by August, 2019. In June 2018, HBC announced it would sell Gilt Groupe to online fashion store Rue La La for an undisclosed sum. In June, 2019 HBC announced its intent to sell the last 49.99 percent of Galeria Kaufhof shares it held to Austrian firm Signa Holding. In August, 2019 Lord & Taylor was sold to Le Tote for $75 million.[115] The remaining stores in the Netherlands were sold by the end of 2019.[116][117]

By early September 2019, it was clear that HBC was streamlining its operations, with the sales of Galeria Kaufhof, Gilt Groupe, and Lord & Taylor as the most recent steps. A feature article by Bloomberg News mentioned that CEO Helena Foulkes, recruited in 2018, "had helped improve the bottom line at Hudson's Bay". She was selling assets "to put the company on more solid financial footing" and could then focus on Saks Fifth Avenue and the Bay. On the other hand, Bloomberg suggested that millennial shoppers prefer to make purchases online, or direct from various brands' own stores, and that HBC "has yet to offer something they can't find somewhere else and risks drifting into irrelevance".[118]

In February 2020, shareholders of the company voted in favour of a plan to become a private company at a special meeting of shareholders. Under the plan of arrangement, the company will be owned by a group of continuing shareholders led by HBC governor and executive chairman Richard Baker.[119] Effective 3 March 2020, the company was delisted from the Toronto Stock Exchange, with Richard A. Baker replacing Foulkes as CEO.[120][121]

Acquisition and sale of other chains

From 2004 to 2008, the HBC owned and operated a small chain of off-price stores called Designer Depot. Similar to the Winners and HomeSense retail format, Designer Depot did not meet sales expectations, and its nine stores were sold.[122] Another HBC chain, Fields, was sold to a private firm in 2012.[123] Established in 1950, Fields was acquired by Zellers in 1976. When Zellers was acquired by HBC in 1978, Fields became part of the HBC portfolio.[124] In early 2019, HBC announced that all 37 Home Outfitters stores would be phased out by year end.[125]

In early 2017, the Hudson's Bay Company made an overture to Macy's for a potential takeover of the U.S. department store chain. Later, HBC also considered a purchase of Neiman Marcus Group Inc. It did not proceed with either deal.[126] On March 16, 2022, it was announced that HBC and Sycamore Partners were preparing bids to buy Kohl's.[127]

Zellers

 
A Zellers discount department store operating in Ottawa in 2014

In September 2011, the HBC announced that it would sell the majority of the Zellers leases for $1.825 billion to the U.S.-based retailer Target Corporation and shutter all of their remaining locations by early 2013.[128] Target used the acquisition of this real estate as a means to enable its entry in the Canadian market. HBC used some of the proceeds to pay down debt and to invest in growing its Hudson's Bay and Lord & Taylor banners. In January 2013, it was confirmed that three Zellers locations, re-purposed as discount department stores for The Bay and Home Outfitters, would remain open.[129][130][131][101] The Target Canada chain folded in 2015; the leases were subsequently returned to landlords or re-sold to other retailers.[132] Zellers was still owned by HBC as two remaining stores following the sale of its lease portfolio to Target Canada in 2011.[129][133][134] By September 2019, the re-purposed Toronto and Ottawa Zellers locations were still operating as discount department stores.

In August 2022, the Hudson's Bay Company announced it would be reviving the Zellers brand through online shopping and physical locations in 2023.[135][136]

Lord & Taylor

On 24 January 2012, the Financial Post reported that Richard Baker (owner of NDRC and governor of Hudson's Bay Company) had dissolved Hudson's Bay Trading Company and that the HBC would now also operate the Lord & Taylor chain. At the time, the company was run by president Bonnie Brooks.[137] Baker remained governor and CEO of the business, and Donald Watros stayed on as chief operating officer.[11]

In 2018, HBC in a joint venture sold the building that housed its flagship Lord & Taylor store on Fifth Avenue in Manhattan to WeWork Property Advisors for $850 million. WeWork was set to occupy the uppermost floors of the building, with the rest of the building remaining a flagship space for Lord & Taylor.[138][139] The deal also included the use of floors of certain HBC-owned department stores in New York, Toronto, Vancouver and Germany as WeWork's shared office workspaces.[108][140]

In August 2019, HBC announced that it would sell their Lord & Taylor business to Le Tote Inc., which was to pay CA$99.5 million in cash when the deal closes (probably before year end 2019) and an additional CA$33.2 million two years later. HBC was to get a 25 per cent equity stake in Le Tote.[141] The buyer would retain the stores' inventory, with an estimated value of CA$284.2 million. The deal, expected to close before year end, required HBC to pay the stores' rent for at least three years, leading one news report to describe it as "Not a clean exit". The liability to HBC for the rents was estimated at CA$77 million cash per year.[142][143]

Saks, Inc.

 
Saks Fifth Avenue flagship store. Saks Fifth Avenue is a chain owned by HBC since 2013.

On 29 July 2013, Hudson's Bay Company announced that it would buy Saks, Inc., operator of the U.S. Saks Fifth Avenue brand, for US$2.9 billion, or $16 per share.[144][145] The merger was completed on 3 November 2013.[146] The company also stated that as a result of the purchase, Canadian consumers would see Saks stores arriving in their country soon.[147] After the purchase was finalized, HBC had a net loss of $124.2 million in the 2013 3Q due to the cost of the purchase and promotions.[148][149]

Galeria Kaufhof

 
A Galeria Kaufhof in Köln. The chain was owned by HBC from 2015 to 2019.

HBC had 135 acquired the German department store chain Galeria Kaufhof and its Belgian subsidiary from Metro Group in September 2015 for US$3.2 billion.[150][151]

On 1 November 2017, HBC received an unsolicited offer from Austrian firm Signa Holding for Kaufhof and other real estate.[152] An unnamed source told CNBC that the value of the offer was approximately 3 billion euros.[153] This information on the offer was also reiterated in a press release by activist shareholder Land & Buildings Investment Management, which urged HBC to accept the offer; the company replied that the offer was incomplete and did not provide indication of financing for the deal.[154] In late 2018, Galeria Kaufhof and Karstadt merged as part of a spin off.[155]

HBC announced its intent to sell the last 49.99 percent of Galeria Kaufhof shares it held to Austrian firm Signa Holding in June 2019. The sale of the real estate in Germany had gained US$1.5 billion (€1 billion) for HBC.[156] At that time, HBC still had a retail operation in the Netherlands, using the Vroom & Dreesmann locations it had purchased in 2017. On 31 August 2019, the company announced that all 15 of those stores would be sold by year end.[157][158]

Operations

The HBC is diversified into joint ventures and other types of business products. The HBC has credit card, mortgage, and personal insurance branches. These other products and services are joint partnerships with other corporations. The HBC also has an HBC Rewards program, where Rewards points can be redeemed in house.

The HBC is involved in community and charity activities. The HBC Rewards Community Program raises funds for community causes. The HBC Foundation is a charity agency involved in social issues and service. The HBC used to sponsor the annual HBC Run for Canada, a series of public-participation runs and walks held across the country on Canada Day to raise funds for Canadian athletes. The company discontinued this event in 2009.[159]

Olympic outfitter

 
Alexandre Bilodeau, a winter Olympian for Canada, wearing HBC apparel made officially for the Canadian Olympic team

The HBC was the official outfitter of clothing for members of the Canadian Olympic team in 1936, 1960, 1964, 1968, 2006, 2008, 2010, 2012, 2014 and 2016. The sponsorship has been renewed through 2020. Since the late 2000s, HBC has used its status as the official Canadian Olympics team outfitter to gain global exposure, as part of a turnaround plan that included shedding under-performing brands and luring new high-end brands.[160]

On 2 March 2005, the company was announced as the new clothing outfitter for the Canadian Olympic team, in a $100 million deal, providing apparel for the 2006, 2008, 2010, and 2012 Games, having outbid the existing Canadian Olympic wear-supplier, Roots Canada, which had supplied Canada's Olympic teams from 1998 to 2004.[161][162] The Canadian Olympic collection is sold through Hudson's Bay (and Zellers until 2013 when the Zellers leases were sold to Target Canada).

HBC's 2006 Winter Olympics and 2008 Summer Olympics uniforms and toques received a mixed reception for their multicoloured stripes (green, red, yellow, blue) which seemed to be not-so-subtle advertising for HBC rather than representing the Canadian Olympic team's traditional colours of red and white (with black as a secondary), in contrast to well-received Root's 1998 collection with its trendy red letter jackets and Poor Boy caps. HBC produced 80 per cent to 90 per cent of their Olympic clothes in China which was criticized, as Roots ensured that the Olympic clothes were made in Canada using Canadian material.[163]

HBC's apparel for the 2010 Winter Olympics held in Vancouver proved to be extremely successful, in part because Canada was the host country and their athletes had a record medal haul. The "Red Mittens" (red-and-white mittens featuring a large maple leaf) that were sold for CA$10, with one-third of the proceeds going to the Canadian Olympic Committee, proved very popular, as were the "Canada" hoodies.[164]

The HBC's 2010 Winter Olympics apparel was also controversial due to a knitted, machine-made sweater that looked like a Cowichan sweater.[165] After a meeting between HBC representatives and Cowichan Tribes, a compromise was made between the parties; knitters would have an opportunity to sell their sweaters at the downtown Vancouver HBC store, alongside the HBC imitations.[166]

 
Red mittens sold by HBC for the 2010 Winter Olympics in Vancouver

Lord Sebastian Coe, chairman of the 2012 London Olympic Games Organizing Committee, who attended the Vancouver Olympics, noted that the Canadians were passionate in embracing the Games with their "Canada" hoodies and their red mittens (of which 2.6 million pairs sold that year).[167][168] HBC has continued to produce these red mittens for subsequent Olympic Games.[169]

In 2021, it was announced that beginning with the 2022 Winter Olympics, Lululemon would replace the HBC as Canada's Olympic outfitter. [170]

Archives

See also: Hudson's Bay Company Archives

The legacy of the HBC has been maintained in part by the detailed record-keeping and archiving of material by the company. Before 1974, the records of the HBC were kept in the London office headquarters. The HBC opened an archives department to researchers in 1931. In 1974, Hudson's Bay Company Archives (HBCA) were transferred from London and placed on deposit with the Manitoba archives in Winnipeg. The company granted public access to the collection the following year.[171]

On 27 January 1994, the company's archives were formally donated to the Archives of Manitoba.[172]

At the time of the donation, the appraised value of the records was nearly $60 million. A foundation, Hudson's Bay Company History Foundation funded through the tax savings resulting from the donation, was established to support the operations of the HBC Archive as a division of the Archives of Manitoba, along with other activities and programs.[173] More than two kilometres (1.2 mi) of filed documents and hundreds of microfilm reels are now stored in a special climate-controlled vault in the Manitoba Archives Building.[citation needed]

In 2007, Hudson's Bay Company Archives became part of the United Nations "Memory of the World Programme" project, under UNESCO. The records covered the HBC history from the founding of the company in 1670. The records contained business transactions, medical records, personal journals of officials, inventories, company reports, etc.[174]

Corporate governance

 
Heraldic achievement of Hudson's Bay Company:[100] Argent, a cross gules between four beavers passant proper. Crest: On a chapeau gules turned up ermine a fox sejant proper. Supporters: Two bucks proper. Latin Motto: Latin: pro pelle cutem, lit. 'skin for leather'[175] apparently a play on Job, 2:4: Pellem pro pelle[176] "skin for skin".[177][178][179]
 
The Company's flag from 1682 to 1707
 
The Company's flag from 1707 to 1801
 
Flag of the Hudson's Bay Company from 1801 to 1965

As of January 2018, the members of the board of directors of Hudson's Bay Company are:[180]

Corporate hierarchy

In the 18th and 19th centuries, Hudson's Bay Company operated with a very rigid employee hierarchy. This hierarchy essentially broke down into two levels; the officers and the servants. Comprising the officers were the factors, masters and chief traders, clerks and surgeons. The servants were the tradesmen, boatmen, and labourers. The officers essentially ran the fur trading posts. They had many duties which included supervising the workers in their trade posts, valuing the furs, and keeping trade and post records. In 1821, when Hudson's Bay Company and the North West Company merged, the hierarchy became even stricter and the lines between officers and servants became virtually impossible to cross. Officers in charge of individual trading posts had much responsibility because they were directly in charge of enforcing the policies made by the governor and committee (the board) of the company. One of these policies was the price of particular furs and trade goods. These prices were called the Official and Comparative Standards. Made-Beaver, the quality measurement of the pelt, was the means of exchange used by Hudson's Bay Company to define the Official and Comparative Standards. Because the governor was stationed in London, England, they needed to have reliable officers managing the trade posts halfway around the world. Because the fur trade was a very dynamic market, HBC needed to have some form of flexibility when dealing with prices and traders. Price fluctuation was deferred to the officers in charge of the trade posts, and the head office recorded any difference between the company's standard and that set by the individual officers. Overplus, or any excess revenue gained by officers, was strictly documented to insure that it was not being pocketed and taken from the company. This strict yet flexible hierarchy exemplifies how Hudson's Bay Company was able to be so successful while still having its central management and trade posts located so far apart.[181][182]

Hierarchichal order pre-1821[182]
# Job Title
OFFICERS
1 Chief Factor
2 Second [Factor]
3 Master [of a trading station]
4 Sloopmaster
Surgeon
5 Writer
6 Apprentice
SERVANTS
1 Tradesman
Steersman
2 Canoeman
Bowsman
3 Middleman
4 Labourer
Hierarchical order 1821–1871[182][183]
# Job Title Pay per year
COMMISSIONED OFFICERS
1 Governor of Rupert's Land Performance Pay
2 Chief Factor Two shares
3 Chief Trader One share
GENTLEMEN
4 Clerk £75–100
5 Apprenticed Clerk £25–27
NON-GENTLEMEN
6 Postmaster £40–75
7 Guide
Interpreter
Sloopmaster		 £30–45
8 Apprentice postmaster
SERVANTS
9 Tradesman
Steersman
Boatman
Bowsman
Middleman
Labourer		 £16–40

Progression

In the 19th century, career progression for officers, together referred to as the Commissioned Gentlemen, was to enter the company as a fur trader. Typically, they were men who had the capital to invest in starting up their trading. They sought to be promoted to the rank of Chief Trader. A Chief Trader would be in charge of an individual post and was entitled to one share of the company's profits. Chief Factors sat in council with the Governors and were the heads of districts. They were entitled to two shares of the company's profits or losses. The average income of a Chief Trader was £360 and that of a Chief Factor was £720.[184]

Governors

Chronological list of Governors of the Hudson's Bay Company:[185]

  1. 1670–82  Prince Rupert of the Rhine[186][187]
  2. 1683–85  James Stuart, Duke of York – resigned as governor to become James II, King of England.[188]
  3. 1685–92  John Churchill, Earl of Marlborough[189][190]
  4. 1692–96  Sir Stephen Evance[191]
  5. 1696–1700  Sir William Trumbull[192]
  6. 1700–12  Sir Stephen Evance
  7. 1712–43  Sir Bibye Lake[193]
  8. 1744–46  Benjamin Pitt[194]
  9. 1746–50  Thomas Knapp[195]
  10. 1750–60  Sir Atwell Lake[196]
  11. 1760–70  Sir William Baker[197]
  12. 1770–82  Sir Bibye Lake, Jr.[198]
  13. 1782–99  Samuel Wegg[199]
  14. 1799–1807  Sir James Winter Lake[200]
  15. 1807–12  William Mainwaring[201]
  16. 1812–22  Joseph Berens[202]
  17. 1822–52  Sir John Henry Pelly in 1826, Simpson becomes governor of the Canadian region.[203]
  18. 1852–56  Andrew Wedderburn Colvile[204]
  19. 1856–58  John Shepherd[205]
  20. 1858–63  Henry Hulse Berens[206]
  21. 1863–68  Sir Edmund Walker Head[207]
  22. 1868–69  John Wodehouse, 1st Earl of Kimberley
  23. 1869–74  Sir Stafford Henry Northcote[208]
  24. 1874–80  George Joachim Goschen[209]
  25. 1880–89  Eden Colvile[210]
  26. 1889–1914  Donald Alexander Smith[211][212]
  27. 1914–15  Sir Thomas Skinner[213]
  28. 1916–25  Sir Robert Molesworth Kindersley
  29. 1925–31  Charles Vincent Sale
  30. 1931–52  Sir Patrick Ashley Cooper – first governor to visit HBC operations in Canada.[214]
  31. 1952–65  William "Tony" Keswick
  32. 1965–70  Derick Heathcoat-Amory
  33. 1970–82  George T. Richardson
  34. 1982–94  Donald S. McGiverin
  35. 1994–97  David E. Mitchell
  36. 1997–2006  L. Yves Fortier
  37. 2006–08  Jerry Zucker
  38. 2008  Anita Zucker – first female governor.
  39. 2008–present  Richard Baker

Miscellany

Rent obligation under charter

Under the charter establishing Hudson's Bay Company, the company was required to give two elk skins and two black beaver pelts to the English king, then Charles II, or his heirs, whenever the monarch visited Rupert's Land. The exact text from the 1670 Charter reads:

...Yielding and paying yearly to us and our heirs and successors for the same two Elks and two Black beavers whensoever and as often as We, our heirs and successors shall happen to enter into the said Countries, Territories and Regions hereby granted.[5]

The ceremony was first conducted with the Prince of Wales (the future Edward VIII) in 1927, then with King George VI in 1939, and last with his daughter, Queen Elizabeth II in 1959 and 1970. On the last such visit, the pelts were given in the form of two live beavers, which the Queen donated to the Winnipeg Zoo in Assiniboine Park. However, when the company permanently moved its headquarters to Canada, the Charter was amended to remove the rent obligation. Each of the four "rent ceremonies" took place in or around Winnipeg.[215]

HBC explorers, builders, and associates

  • James Knight (c. 1640 – c. 1721) was a director of Hudson's Bay Company and an explorer who died in an expedition to the Northwest Passage.[216][217][218]
  • Henry Kelsey (c. 1667 – 1 November 1724), a.k.a. the Boy Kelsey, was an English fur trader, explorer, and sailor who played an important role in establishing Hudson's Bay Company in Canada. In 1690, Henry Kelsey embarked on a 2-year exploration journey that made him the first white man to see buffalo.[219]
  • Thanadelthur (c. 1697 – 5 February 1717) was a woman of the Chipewyan nation who served as a guide and interpreter for Hudson's Bay Company.[220]
  • Samuel Hearne (1745–92) was an English explorer, fur-trader, author, and naturalist. In 1774, Hearne built Cumberland House for the Hudson's Bay Company, its first interior trading post and the first permanent settlement in present Saskatchewan.[46][47]
  • David Thompson (30 April 1770 – 10 February 1857) was a British-Canadian fur trader that worked for both the Hudson's Bay Company and the North West Trading Company. He is best known for his extensive explorations and map-making activities. He mapped almost half of North America between the 46th and 60th parallels, from the St.Lawrence and Great Lakes all the way to the Pacific.[221]
  • Thomas Douglas, Lord Selkirk (20 June 1771 – 8 April 1820) was a Scottish peer. He was a Scottish philanthropist who, as HBC's majority shareholder, arranged to purchase land at Red River to establish a colony for dispossessed Scottish immigrants.[222]
  • Isobel Gunn or Isabella Gunn (c. 1780 – 7 November 1861), also known as John Fubbister or Mary Fubbister, was a Scottish labourer employed by Hudson's Bay Company (HBC), noted for having passed herself as a man, thereby becoming the first European woman to travel to Rupert's Land, now part of Western Canada.[223]
  • George Simpson (1787 – 7 September 1860) was the Canadian governor of Hudson's Bay Company during the period of its greatest power, a period which began in 1821 following the company's merger with the North West Trading Company.[224][225]
  • John McLean (c. 1799 – 8 September 1890), a Scoto-Canadian trapper and trader who successfully crossed the entire Labrador Peninsula, opening up an overland route between Fort Smith on Lake Melville and Fort Chimo on Ungava Bay; first European to discover Churchill Falls on the Churchill River.[226]
  • Donald Smith, 1st Baron Strathcona and Mount Royal (6 August 1820 – 21 January 1914), at various times Chief Factor of the Labrador district, Commissioner of the Montreal district, and President of the Council of the Northern Department, who pacified Louis Riel during the Red River Rebellion of 1870, thus enabling the transfer of Rupert's Land from the HBC to the fledgling government of Canada. Later, he became Governor of the HBC.[227]
  • Dr. John Rae (Inuktitut Aglooka ᐊᒡᓘᑲ English: "long strider") (30 September 1813 – 22 July 1893) was a Scottish doctor who explored Northern Canada, surveyed parts of the Northwest Passage and reported the fate of the Franklin Expedition.[228][229]
  • William Keswick (15 April 1834 – 9 March 1912) and grandson Sir William Johnstone Keswick (1903–90) served at HBC; the former as a director and later as governor from 1952 to 1965. The Keswick family are the Scottish business dynasty that controls Hong Kong-based Jardine Matheson, one of the original British trading houses or Hongs in British Hong Kong.

HBC sternwheelers and steamships

Main article: Hudson's Bay Company vessels
  • Beaver (1835–74)
  • Otter (1852–95)[230]
  • Anson Northup (1859–60)[231]
  • Caledonia (1891–98) – She ran aground on rocks at Port Simpson during a storm and her hull was destroyed. Her engines were put into the Caledonia 2
  • Caledonia (2) (1898–1909) – Her machinery was from the Caledonia 1
  • Mount Royal (1902–07)
  • Princess Louise (1878–83)
  • Strathcona (1900)
  • Port Simpson (1907–12)
  • Hazelton (1907–12)
  • Distributor (1920–48)[232]

Rivals

The HBC is the only European trading company to have survived. It outlived all its rivals.[233]

Years Company Fate
1551–1917 Muscovy Company Taken over by Soviet Russia and now operates as charity.
1581–1825 Levant Company Dissolved
1600–1874 Honourable East India Company Dissolved
1602–1800 Dutch East India Company Went bankrupt and assets taken over by Dutch government
1621–1791 Dutch West India Company Bought by the Dutch government
1672–1752 Royal African Company Replaced by the African Company of Merchants, which folded in 1821.
1711–1850s South Sea Company Abolished by bankruptcy and the Louisiana Purchase
1779–1821 North West Company Merged with the HBC
1799–1867 Russian-American Company Folded with the sale of Russian America to the U.S. and commercial assets in North America sold to Hutchinson, Kohl & Company (now as the Alaska Commercial Company)
1808–1842 American Fur Company Folded

See also

References

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Bibliography

  • Galbraith, John S. (1957). Hudson's Bay Company As an Imperial Factor 1821–1869. Berkeley and Los Angeles: University of California Press. Retrieved 6 October 2015.
  • Newman, Peter C. (1985). Company of Adventurers. Vol. I. Markham, Ontario: Viking, Penguin Books of Canada. ISBN 978-0-6708-0379-8.
  • Rich, Edwin Ernest (1958). The History of the Hudson's Bay Company, 1670 – 1870. Vol. I. Hudson's Bay Record Society.

Further reading

  • Bryce, George (1968). The Remarkable History of Hudson's Bay Company. New York: B. Franklin.
  • Buss, Helen M (2003), Undelivered Letters to Hudson's Bay Company Men on the Northwest Coast, University of British Columbia Press, ISBN 978-0-7748-0973-3
  • "The Beaver: Exploring Canada's History". Periodical. An Illustrated Canadian History Magazine Published by the HBC 1920 – 1994. By CNHS Since 1994. Winnipeg. 1920.
  • Cowie, Isaac (1913). The Company of Adventurers: a Narrative of Seven Years in the Service of the Hudson's Bay Company during 1867–1874, on the Great Buffalo Plains. Toronto: William Briggs.
  • Dillon, Richard H. (2012) [1975]. Siskiyou Trail: Hudson's Bay Company Route to California. New York: McGraw-Hill. ISBN 978-1-6180-9063-8.
  • Elle, Andra-Warner (2009), Hudson's Bay Company Adventures: The Rollicking Saga of Canada's Fur Traders, Heritage House, ISBN 978-1-894974-68-4
  • Gibson, James R., ed. (2019). "Opposition on the Coast": The Hudson's Bay Company, American Coasters, the Russian-American Company, and Native Traders on the Northwest Coast, 1825-1846. doi:10.3138/9780772764430. ISBN 978-0-7727-6441-6. S2CID 231624945.
  • Hearne, Samuel (1795). A Journey from Prince of Wales's Fort in Hudson's Bay, to the Northern Ocean. London: A. Strahan and T. Cadell Publishers. – 2011 reprint: A Journey to the Northern Ocean: The Adventures of Samuel Hearne at Google Books
  • Laut, Agnes C. (1908). The Conquest of the Great Northwest. New York: Outing Publishing.
  • MacKay, Douglas (1936). The Honourable Company: A History of the Hudson's Bay Company. Indianapolis: Bobbs-Merrill.
  • Maurice, Edward Beauclerk (2006) [2004]. The Last of the Gentleman Adventurers. Boston: Houghton Mifflin Co. ISBN 978-0-5477-5432-1.
  • Murray, Alexander Hunter (1848). Expedition to Build a Hudson's Bay Company Post on the Yukon, 1847–48.
  • Newman, Peter C. (1987). Caesars of the Wilderness: Company of Adventurers. Vol. II. Markham, Ontario: Viking, Penguin Books of Canada. ISBN 978-0-6708-0967-7.
  • Newman, Peter C. (1989). Empire of the Bay: An Illustrated History of the Hudson's Bay Company. Markham, Ontario: Viking, Penguin Books of Canada. ISBN 978-0-6708-2969-9.
  • Newman, Peter C. (1991). Merchant Princes: Company of Adventurers. Vol. III. Markham, Ontario: Viking, Penguin Books of Canada. ISBN 978-0-6708-4098-4.
  • Newman, Peter C. (2002). An Illustrated History of the Hudson's Bay Company (Previously published as Empire of the Bay). Toronto: Penguin Canada/Madison Press. ISBN 978-0-6708-2969-9.
  • Newman, Peter C. (2005). Company of Adventurers: How the Hudson's Bay Empire Determined the Destiny of a Continent. Toronto: Penguin Canada. ISBN 978-0-1430-5147-3.
  • Opp, James (2015). "Branding 'the Bay/la Baie': Corporate Identity, the Hudson's Bay Company, and the Burden of History in the 1960s". Canadian Historical Review. 96 (2): 223–256. doi:10.3138/chr.2675. S2CID 160967383.
  • Reed, Charles B. (1914). Masters of the Wilderness. Chicago Historical Society, University of Chicago Press.
  • Rich, Edwin Ernest (1959). The History of the Hudson's Bay Company, 1670 – 1870. Vol. II. Hudson's Bay Record Society.
  • Rich, Edwin Ernest (1966). Montreal and the Fur Trade. Beatty Memorial Lectures (reprint ed.). Montreal: McGill-Queen's University Press. ISBN 978-0-7735-9431-9.
  • Rich, Edwin Ernest (1967). The Fur Trade and the Northwest to 1857. Toronto: McClelland & Stewart.
  • Simmons, Deidre (2007). Keepers of the Record: The History of the Hudson's Bay Company Archives. Montreal: McGill-Queen's University Press. ISBN 978-0-7735-3291-5.
  • Tichenor, Harold (2002). The Blanket: An Illustrated History of the Hudson's Bay Point Blanket. Toronto: Quantum Books for Hudson's Bay Company. ISBN 978-1-8958-9220-8.
  • Van Kirk, Sylvia (1999) [1980]. Many Tender Ties: Women in the Fur- Trade Society, 1670–1870. Winnipeg: Watson & Dwyer. ISBN 978-1-8962-3951-4. – 1983 edition: Many Tender Ties: Women in the Fur- Trade Society, 1670–1870 at Google Books
  • Van Kirk, Sylvia (1984). "The Role of Native Women in the Fur Trade Society of Western Canada, 1670–1830". Frontiers: A Journal of Women Studies. 7 (3): 9–13. doi:10.2307/3346234. JSTOR 3346234.
  • Van Kirk, Sylvia (1991). "The Role of Native Women in the Fur Trade Society of Western Canada, 1670–1830". In Strong-Boag, Veronica; Fellman, Anita Clair (eds.). Rethinking Canada: The Promise of Women's History (2nd ed.). Toronto: Copp Clark Pitman. ISBN 978-0-7730-5097-6.
  • White, Bruce. M. (Winter 1999). "The Woman who Married a Beaver: Trade Patterns and Gender Roles in the Ojibwa Fur Trade". Ethnohistory. 46 (1): 109–147. JSTOR 483430.
  • Willson, Beckles (1900). The Great Company (1667–1871): A History of the Honourable Company of Merchants-adventurers Trading into Hudson's Bay. London: Smith, Elder and Company. – Also: The Great Company, 1667–1871: Being a History of the Honourable Company of Merchants-Adventurers Trading into Hudson's Bay at Google Books

External links

 
Wikimedia Commons has media related to Hudson's Bay Company.
 
Wikisource has the text of the Encyclopædia Britannica (9th ed.) article Hudson's Bay Company.
 
Wikisource has the text of the 1911 Encyclopædia Britannica article "Hudson's Bay Company".
  • Official website  
  • HBC Heritage website
  • Hudson's Bay Company Archives – held by the Government of Manitoba
  • Works by Hudson's Bay Company at Project Gutenberg
  • Works by or about Hudson's Bay Company at Internet Archive
  • John Work Papers. 1823–1862. 0.42 cubic feet (1 box). At the Labor Archives of Washington, University of Washington Libraries Special Collections. Contains records from Work's service as an officer of the Hudson's Bay Company at various company settlements, including Fort Vancouver, Fort Colvile, Spokane House, Fort Simpson, Fort Nisqually, and Fort Victoria.
  • Hudson's Bay Company papers at the University of Oregon
  • The Other Side of the Ledger: An Indian View of the Hudson's Bay Company
  • The Canadian Encyclopedia, The Hudson's Bay Company 16 October 2013 at the Wayback Machine
  • H. Bullock-Webster fonds – An artistic rendition of the Canadian fur trade, from the UBC Library Digital Collections, depicting social life, activities and customs in Hudson's Bay Company posts in the 19th Century
  • Elizabeth F. Washburn Journal on her experiences on board the Hudson's Bay Company's supply ship "Rupertsland" at Dartmouth College Library
  • Documents and clippings about Hudson's Bay Company in the 20th Century Press Archives of the ZBW

March 25, 2023
hudson, company, other, uses, hudson, disambiguation, french, compagnie, baie, hudson, canadian, retail, business, group, trading, business, much, existence, became, largest, oldest, corporation, canada, owns, operates, retail, stores, across, country, company. For other uses see Hudson s Bay disambiguation 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 it became the largest and oldest corporation in Canada and now owns and operates retail stores across the country 2 3 The company s namesake business division is Hudson s Bay commonly referred to as The Bay La Baie in French 4 Hudson s Bay CompanyCompagnie de la Baie d HudsonTypePrivateIndustryRetailFounded2 May 1670 352 years ago 2 May 1670 London EnglandHeadquarters401 Bay St Suite 500Toronto Ontario M5H 2Y4 CanadaKey peopleRichard Baker governor executive chairman and CEO RevenueCA 9 4 billion 2018 Net incomeCA 631 million 2018 OwnerNRDC Equity Partners 48 Number of employees30 000 2017 1 DivisionsHudson s Bay Saks Fifth Avenue Saks Off 5th ZellersWebsitehbc wbr comAfter incorporation by English royal charter in 1677 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 the entire Hudson Bay drainage basin known as Rupert s Land to Canada in 1869 as part of the Deed of Surrender 5 6 authorized by the Rupert s Land Act 1868 At 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 7 8 These shops were the first step towards the department stores the company owns today 9 In 2006 an American businessman Jerry Zucker bought HBC for US 1 1 billion In 2008 HBC was acquired by NRDC Equity Partners which also owned the upmarket American department store Lord amp Taylor 10 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 11 HBC s Canadian headquarters are located in Toronto 12 and its U S headquarters are in New York 13 The company spun off most of its European operations by August 2019 and its remaining stores there in the Netherlands were sold by the end of 2019 Until March 2020 the company was listed on the Toronto Stock Exchange under the symbol HBC TO until Richard Baker and a group of shareholders took the company private 14 HBC is as of 2022 update the majority owner of eCommerce companies Saks 15 and Saks Off 5th 16 both established as separate operating companies in 2021 16 17 HBC wholly owns SFA the entity that operates Saks Fifth Avenue s physical locations 18 O5 the operating company for Saks Off 5th stores 19 The Bay an eCommerce marketplace and Hudson s Bay the operating company for Hudson s Bay s brick and mortar stores 19 20 HBC owns or controls approximately 3 7 million square metres 40 million square feet of gross leasable real estate 21 through its real estate and investment arm HBC Properties and Investments established in October 2020 22 23 Contents 1 History 1 1 17th century 1 2 18th century 1 3 19th century 1 3 1 Competition and exploration 1 3 2 End of monopoly 1 3 3 Shift to department stores 1 4 20th century 1 4 1 Indigenous health 1 4 2 Latter 20th century 1 5 21st century 1 5 1 Acquisition and sale of other chains 1 5 2 Zellers 1 5 3 Lord amp Taylor 1 5 4 Saks Inc 1 5 5 Galeria Kaufhof 2 Operations 2 1 Olympic outfitter 3 Archives 4 Corporate governance 4 1 Corporate hierarchy 4 1 1 Progression 4 2 Governors 5 Miscellany 5 1 Rent obligation under charter 5 2 HBC explorers builders and associates 5 3 HBC sternwheelers and steamships 5 4 Rivals 6 See also 7 References 8 Bibliography 9 Further reading 10 External linksHistory Edit17th century Edit Rupert s Land an area that encompasses the drainage basin of the Hudson Bay For much of the 17th century the French colonists in North America based in New France operated a de facto monopoly in the North American fur trade Two French traders Pierre Esprit Radisson and Medard des Groseilliers Medard de Chouart Sieur des Groseilliers Radisson s brother in law learned from the Cree that the best fur country lay north and west of Lake Superior and that there was a frozen sea still further north 24 Assuming this was Hudson Bay they sought French backing for a plan to set up a trading post on the Bay in order to reduce the cost of moving furs overland According to Peter C Newman concerned that exploration of the Hudson Bay route might shift the focus of the fur trade away from the St Lawrence River the French governor Marquis d Argenson in office 1658 61 refused to grant the coureurs des bois permission to scout the distant territory 24 Despite this refusal in 1659 Radisson and Groseilliers set out for the upper Great Lakes basin A year later they returned to Montreal with premium furs evidence of the potential of the Hudson Bay region Subsequently they were arrested by French authorities for trading without a license and fined and their furs were confiscated by the government 25 Determined to establish trade in the Hudson Bay area Radisson and Groseilliers approached a group of English colonial merchants in Boston Massachusetts to help finance their explorations The Bostonians agreed on the plan s merits but their speculative voyage in 1663 failed when their ship ran into pack ice in Hudson Strait Boston based English commissioner Colonel George Cartwright learned of the expedition and brought the two to England to raise financing 24 Radisson and Groseilliers arrived in London in 1665 at the height of the Great Plague Eventually the two met and gained the sponsorship of Prince Rupert Prince Rupert introduced the two to his cousin the reigning king Charles II 26 In 1668 the English expedition acquired two ships the Nonsuch and the Eaglet to explore possible trade into Hudson Bay Groseilliers sailed on the Nonsuch commanded by Captain Zachariah Gillam while the Eaglet was commanded by Captain William Stannard and accompanied by Radisson On 5 June 1668 both ships left port at Deptford England but the Eaglet was forced to turn back off the coast of Ireland 25 27 The Nonsuch continued to James Bay the southern portion of Hudson Bay where its explorers founded in 1668 the first fort on Hudson Bay Charles Fort 28 at the mouth of the Rupert River It later became known as Rupert House and developed as the community of present day Waskaganish Quebec Both the fort and the river were named after the sponsor of the expedition Prince Rupert of the Rhine one of the major investors and soon to become the new company s first governor After a successful trading expedition over the winter of 1668 69 Nonsuch returned to England on 9 October 1669 with the first cargo of fur resulting from trade in Hudson Bay 25 The bulk of the fur worth 1 233 was sold to Thomas Glover one of London s most prominent furriers This and subsequent purchases by Glover proved the viability of the fur trade in Hudson Bay 29 Depiction of the first sale of Hudson s Bay fur at Garraway s Coffee House in London 1671 A royal charter from King Charles II incorporated The Governor and Company of Adventurers of England trading into Hudson s Bay on 2 May 1670 5 The charter granted the company a monopoly over the region drained by all rivers and streams flowing into Hudson Bay in northern parts of present day Canada The area was named Rupert s Land 30 after Prince Rupert 31 the first governor of the company appointed by the King This drainage basin of Hudson Bay spans 3 861 400 square kilometres 1 490 900 sq mi 32 comprising over one third of the area of modern day Canada and stretches into the present day north central United States The specific boundaries remained unknown at the time Rupert s Land would eventually become Canada s largest land purchase in the 19th century 33 The HBC established six posts between 1668 and 1717 Rupert House 34 1668 southeast Moose Factory 35 1673 south and Fort Albany 36 Ontario 1679 west were erected on James Bay three other posts were established on the western shore of Hudson Bay proper New Severn 1685 37 York Factory 1684 and Fort Churchill 1717 Inland posts were not built until 1774 After 1774 York Factory became the main post because of its convenient access to the vast interior waterway systems of the Saskatchewan and Red rivers Originally called factories because the factor i e a person acting as a mercantile agent did business from there these posts operated in the manner of the Dutch fur trading operations in New Netherland By adoption of the Standard of Trade in the 18th century the HBC ensured consistent pricing throughout Rupert s Land A means of exchange arose based on the Made Beaver MB a prime pelt worn for a year and ready for processing the prices of all trade goods were set in values of Made Beaver MB with other animal pelts such as squirrel otter and moose quoted in their MB made beaver equivalents For example two otter pelts might equal 1 MB 38 Trading at an HBC trading post During the fall and winter First Nations men and European trappers accomplished the vast majority of the animal trapping and pelt preparation They travelled by canoe and on foot to the forts to sell their pelts In exchange they typically received popular trade goods such as knives kettles beads needles and the Hudson s Bay point blanket The arrival of the First Nations trappers was one of the high points of the year met with pomp and circumstance The highlight was very formal an almost ritualized Trading Ceremony between the Chief Trader and the Captain of the aboriginal contingent who traded on their behalf 39 During the initial years of the fur trade prices for items varied from post to post 40 The early coastal factory model of the English contrasted with the system of the French who established an extensive system of inland posts at native villages and sent traders to live among the tribes of the region learning their languages and often forming alliances through marriages with indigenous women In March 1686 the French sent a raiding party under the Chevalier des Troyes more than 1 300 km 810 mi to capture the HBC posts along James Bay The French appointed Pierre Le Moyne d Iberville who had shown great heroism during the raids as commander of the company s captured posts In 1687 an English attempt to resettle Fort Albany failed due to strategic deceptions by d Iberville After 1688 England and France were officially at war and the conflict played out in North America as well D Iberville raided Fort Severn in 1690 but did not attempt to raid the well defended local headquarters at York Factory In 1693 the HBC recovered Fort Albany d Iberville captured York Factory in 1694 but the company recovered it the next year 41 151 158 Depiction of the capture of York Factory by French forces in 1694 In 1697 d Iberville again commanded a French naval raid on York Factory On the way to the fort he defeated three ships of the Royal Navy in the Battle of Hudson s Bay 5 September 1697 the largest naval battle in the history of the North American Arctic D Iberville s depleted French force captured York Factory by laying siege to the fort and pretending to be a much larger army The French retained all of the outposts except Fort Albany until 1713 A small French and Indian force attacked Fort Albany again in 1709 during Queen Anne s War but was unsuccessful The economic consequences of the French possession of these posts for the company were significant the HBC did not pay any dividends for more than 20 years See Anglo French conflicts on Hudson Bay 41 160 164 18th century Edit With the ending of the Nine Years War in 1697 and the War of the Spanish Succession in 1713 with the signing of the Treaty of Utrecht France had made substantial concessions Among the treaty s many provisions it required France to relinquish all claims to Great Britain on the Hudson Bay which again became a British possession 42 The Kingdom of Great Britain had been established following the union of Scotland and England in 1707 After the treaty the HBC built Prince of Wales Fort a stone star fort at the mouth of the nearby Churchill River 41 202 206 In 1782 during the American Revolutionary War a French squadron under Jean Francois de Galaup comte de Laperouse captured and demolished York Factory and Prince of Wales Fort in support of the American rebels 41 366 371 Depiction of an Indigenous woman wearing a Hudson s Bay point blanket c 1850 In its trade with native peoples Hudson s Bay Company exchanged wool blankets called Hudson s Bay point blankets for the beaver pelts trapped by aboriginal hunters By 1700 point blankets accounted for more than 60 per cent of the trade 43 The number of indigo stripes a k a points woven into the blankets identified its finished size A long held misconception is that the number of stripes was related to its value in beaver pelts 44 A parallel may be drawn between the HBC s control over Rupert s Land with the trade monopoly and government functions enjoyed by the East India Company over India during roughly the same period The HBC invested 10 000 in the East India Company in 1732 which it viewed as a major competitor 45 Hudson s Bay Company s first inland trading post was established by Samuel Hearne in 1774 with Cumberland House Saskatchewan 46 47 Conversely a number of inland HBC houses pre date the construction of Cumberland House in 1774 Henley House established in 1743 inland from Hudson Bay at the confluence of the Albany and Kabinakagami Rivers was dependent on Albany River Fort Albany for lines of communication was not finished until 1768 48 Next the inland houses of Split Lake and Nelson Houses were established between 1740 and 1760 These were dependent on York River York Factory and Churchill River respectively Although not inland Richmond Fort was established in 1749 This was on an island within Hudson Bay It was titled a New Discovery in 1749 and by 1750 was titled Richmond Gulf The name was changed to Richmond Fort and given the abbreviation RF from 1756 to 1759 it served mainly as a trade goods and provisions storage location 49 Additional inland posts were Capusco River and Chickney Creek both circa 1750 Likewise Brunswick 1776 New Brunswick 1777 Gloucester 1777 Upper Hudson ca 1778 Lower Hudson 1779 Rupert and Wapiscogami Houses were established in the decade of the 1770s 50 51 52 53 54 These post date Cumberland House yet speak to the expanding inland incursion of the HBC in the last quarter of the 18th century Minor posts also during this time period include Mesackamy Mesagami Lake 1777 Sturgeon Lake 1778 Beaver Lake Posts 55 56 In 1779 other traders founded the North West Company NWC in Montreal as a seasonal partnership to provide more capital and to continue competing with the HBC It became operative for the outfit of 1780 and was the first joint stock company in Canada and possibly North America The agreement lasted one year A second agreement established in 1780 had a three year term The company became a permanent entity in 1783 57 By 1784 the NWC had begun to make serious inroads into the HBC s profits 58 19th century Edit Depiction of the Battle of Seven Oaks a violent confrontation between HBC and the North West Company during the Pemmican War The North West Company NWC was the main rival in the fur trade The competition led to the small Pemmican War in 1816 The Battle of Seven Oaks on 19 June 1816 was the climax of the long dispute 59 In 1821 the North West Company of Montreal and Hudson s Bay Company were forcibly merged by intervention of the British government to put an end to often violent competition 175 posts 68 of them the HBC s were reduced to 52 for efficiency and because many were redundant as a result of the rivalry and were inherently unprofitable 60 Their combined territory was extended by a licence to the North Western Territory which reached to the Arctic Ocean in the north and with the creation of the Columbia Department in the Pacific Northwest to the Pacific Ocean in the west The NWC s regional headquarters at Fort George Fort Astoria was relocated to Fort Vancouver on the north bank of the Columbia River it became the HBC base of operations on the Pacific Slope 61 369 370 Before the merger the employees of the HBC unlike those of the North West Company did not participate in its profits After the merger with all operations under the management of Sir George Simpson 1826 60 the company had a corps of commissioned officers 25 chief factors and 28 chief traders who shared in the company s profits during the monopoly years Its trade covered 7 770 000 km2 3 000 000 sq mi and it had 1 500 contract employees 62 Currency issued by the Hudson s Bay Company 1820 Between 1820 and 1870 the HBC issued its own paper money The notes denominated in sterling were printed in London and issued at York Factory for circulation primarily in the Red River Colony 63 Competition and exploration Edit Although the HBC maintained a monopoly on the fur trade during the early to mid 19th century there was competition from James Sinclair and Andrew McDermot Dermott independent traders in the Red River Colony They shipped furs by the Red River Trails to Norman Kittson 64 a buyer in the United States In addition Americans controlled the maritime fur trade on the Northwest Coast until the 1830s 65 Throughout the 1820s and the 1830s the HBC controlled nearly all trading operations in the Pacific Northwest region and was based at its headquarters at Fort Vancouver on the Columbia River 66 Although claims to the region were by agreement in abeyance commercial operating rights were nominally shared by the United States and Britain through the Anglo American Convention of 1818 but company policy enforced via Chief Factor John McLoughlin of the company s Columbia District was to discourage U S settlement of the territory The company s effective monopoly on trade virtually forbade any settlement in the region 61 370 It established Fort Boise in 1834 in present day southwestern Idaho to compete with the American Fort Hall 483 km 300 mi to the east In 1837 it purchased Fort Hall also along the route of the Oregon Trail The outpost director displayed the abandoned wagons of discouraged settlers to those seeking to move west along the trail 67 Hudson s Bay Company officials in an express canoe crossing a lake 1825 HBC trappers were deeply involved in the early exploration and development of Northern California Company trapping brigades were sent south from Fort Vancouver along what became known as the Siskiyou Trail into Northern California as far south as the San Francisco Bay Area where the company operated a trading post at Yerba Buena San Francisco These trapping brigades in Northern California faced serious risks and were often the first to explore relatively uncharted territory They included the lesser known Peter Skene Ogden and Samuel Black 68 69 It also operated a store in what were then known as the Sandwich Islands now Hawai i engaging in merchant shipping to the islands between 1828 and 1859 70 The company s stranglehold on the region was broken by the first successful large wagon train to reach Oregon in 1843 led by Marcus Whitman In the years that followed thousands of emigrants poured into the Willamette Valley of Oregon In 1846 the United States acquired full authority south of the 49th parallel the most settled areas of the Oregon Country were south of the Columbia River in what is now Oregon McLoughlin who had once turned away would be settlers when he was company director then welcomed them from his general store at Oregon City He later became known as the Father of Oregon 71 The company retains no presence today in the portion of the Pacific Northwest governed by the United States End of monopoly Edit A section of a map showing the routes explored during the Palliser expedition The Guillaume Sayer trial in 1849 contributed to the end of the HBC monopoly Guillaume Sayer a Metis trapper and trader was accused of illegal trading in furs The Court of Assiniboia brought Sayer to trial before a jury of HBC officials and supporters During the trial a crowd of armed Metis men led by Louis Riel Sr gathered outside the courtroom Although Sayer was found guilty of illegal trade having evaded the HBC monopoly Judge Adam Thom did not levy a fine or punishment Some accounts attributed that to the intimidating armed crowd gathered outside the courthouse With the cry Le commerce est libre Le commerce est libre Trade is free Trade is free the Metis loosened the HBC s previous control of the courts which had enforced their monopoly on the settlers of Red River citation needed Another factor was the findings of the Palliser Expedition of 1857 to 1860 led by Captain John Palliser He surveyed the area of the prairies and wilderness from Lake Superior to the southern passes of the Rocky Mountains Although he recommended against settlement of the region the report sparked a debate It ended the myth publicized by Hudson s Bay Company that the Canadian West was unfit for agricultural settlement citation needed In 1863 the International Financial Society bought controlling interest in the HBC signalling a shift in the company s outlook most of the new shareholders were less interested in the fur trade than in real estate speculation and economic development in the West The Society floated 2 million in public shares on non ceded land held ostensibly by the Hudson s Bay Company as an asset and leveraged this asset for collateral for these funds These funds allowed the Society the financial means to weather the financial collapse of 1866 which destroyed many competitors and invest in railways in North America 72 Map of British North America in 1870 prior to HBC ceding Rupert s Land and the North Western Territory to Canada In 1869 after rejecting the American government offer of CA 10 million 73 the company approved the return of Rupert s Land to Britain The government gave it to Canada and loaned the new country the 300 000 required to compensate HBC for its losses 6 HBC also received one twentieth of the fertile areas to be opened for settlement and retained title to the lands on which it had built trading establishments 74 The deal known as the Deed of Surrender came into force the following year The resulting territory the North West Territories was brought under Canadian jurisdiction under the terms of the Rupert s Land Act 1868 enacted by the Parliament of the United Kingdom The Deed enabled the admission of the fifth province Manitoba to the Confederation on 15 July 1870 the same day that the deed itself came into force 6 During the 19th century the Hudson s Bay Company went through great changes in response to such factors as growth of population and new settlements in part of its territory and ongoing pressure from Britain It seemed unlikely that it would continue to control the future of the West 75 Shift to department stores Edit See also Hudson s Bay department store An HBC store in Vancouver c 1890s The iconic department store today evolved from trading posts at the start of the 19th century when they began to see demand for general merchandise grow rapidly HBC soon expanded into the interior and set up posts along river settlements that later developed into the modern cities of Winnipeg Calgary and Edmonton In 1857 the first sales shop was established in Fort Langley This was followed by other sales shops in Fort Victoria 1859 Winnipeg 1881 Calgary 1884 Vancouver 1887 Vernon 1887 Edmonton 1890 Yorkton 1898 and Nelson 1902 The first of the grand original six department stores was built in Calgary in 1913 The other department stores that followed were in Edmonton Vancouver Victoria Saskatoon and Winnipeg 8 76 20th century Edit The First World War interrupted a major remodelling and restoration of retail trade shops planned in 1912 Following the war the company revitalized its fur trade and real estate activities and diversified its operations by venturing into the oil business 7 77 The company co founded Hudson s Bay Oil and Gas Company HBOG in 1926 with Marland Oil Company which merged with Conoco in 1929 Although the company diversified into a number of areas its department store business is the only remaining part of the company s operations in the form of department stores under the Hudson s Bay brand 9 The company also established new trading posts in the Canadian Arctic Indigenous health Edit The medical scientist Frederick Banting was travelling in the Arctic in 1927 when he realized that crew or passengers on board the HBC paddle wheeler SS Distributor were responsible for spreading the influenza virus down the Slave River and Mackenzie River Less than a decade after the 1918 global flu pandemic a similar virus spread territory wide over the summer and autumn devastating the aboriginal population of the north 78 79 Returning from the trip Banting gave an interview in Montreal with a Toronto Star reporter under the agreement that his statements on HBC would remain off the record 78 The newspaper nonetheless published the conversation which rapidly reached a wide audience across Europe and Australia 78 80 Banting was angry at the leak having promised the Department of the Interior not to make any statements to the press prior to clearing them 80 The article noted that Banting had given the journalist C R Greenaway repeated instances of how the fox fur trade always favoured the company For over 100 000 of fox skins he estimated that the Eskimos had not received 5 000 worth of goods 80 He traced this treatment to health consistent with reports made in previous years by RCMP officers suggesting that the result was a diet of flour sea biscuits tea and tobacco with the skins that once were used for clothing traded merely for cheap whiteman s goods 80 The HBC fur trade commissioner called Banting s remarks false and slanderous and a month later the governor and general manager met Banting at the King Edward Hotel to demand a retraction 78 80 Banting stated that the reporter had betrayed his confidence but did not retract his statement and reaffirmed that HBC was responsible for the death of indigenous residents by supplying the wrong kind of food and introducing diseases into the Arctic 78 As A Y Jackson the Group of Seven painter with whom Banting was travelling noted in his memoir that since neither the governor nor the general manager had been to the Arctic the meeting ended with them asking Banting s advice on what HBC ought to do He gave them some good advice and later he received a card at Christmas with the Governor s best wishes 78 Banting maintained this position in his report to the Department of the Interior 80 He noted that infant mortality was high because of the undernourishment of the mother before birth that white man s food leads to decay of native teeth that tuberculosis has commenced Saw several cases at Godhavn Etah Port Burwell Arctic Bay that an epidemic resembling influenza killed a considerable proportion of population at Port Burwell and that the gravest danger faces the Eskimo in his transfer from a race long hunter to a dependent trapper White flour sea biscuits tea and tobacco do not provide sufficient fuel to warm and nourish him Furthermore he discouraged the establishment of an Arctic hospital The proposed hospital at Pangnirtung would be a waste of money as it could be reached by only a few natives Banting s report contrasted starkly with the bland descriptions provided by the ship s physician F H Stringer Latter 20th century Edit Hudson s Bay Montreal Downtown Originally the flagship store for Morgan s the department store chain was acquired by HBC in 1960 In 1960 the company acquired Morgan s allowing it to expand into Montreal Toronto Hamilton and Ottawa In 1965 HBC rebranded its department stores as The Bay 81 The Morgan s logo was changed to match the new visual identity By 1972 the last of the former Morgan s stores had been rebranded to Bay stores 82 HBOG also expanded during the 1960s as it began shipping Canadian crude through a new link to the Glacier pipeline and on to the refinery in Billings Montana The company became the sixth largest Canadian oil producer in 1967 83 In 1970 on the company s 300th anniversary as a result of punishing new British tax laws the company relocated to Canada and was rechartered as a Canadian business corporation under Canadian law 84 Head Office functions were transferred from London to Winnipeg By 1974 as the company expanded into eastern Canada head office functions were moved to Toronto In 1972 the company acquired the four store Shop Rite chain of catalogue stores The chain was quickly expanded to 65 stores in Ontario but closed in 1982 due to declining sales 85 In these stores little merchandise was displayed customers made their selections from catalogues and staff would retrieve the merchandise from storerooms The HBC also acquired Freimans department stores in Ottawa and converted them to The Bay 86 In 1973 HBOG acquired a 35 per cent stake in Siebens Oil and Gas and in 1979 it divested that interest In 1980 it bought a controlling interest in Roxy Petroleum The Bay Queen Street in Toronto It was formerly the flagship store for Simpson s before HBC converted it to Hudson Bay in 1991 In 1978 the Zellers discount store chain made a bid to acquire the HBC but the HBC turned the tables and acquired Zellers 87 Also in 1978 Simpson s department stores were acquired by Hudson s Bay Company and were converted to Bay stores in 1991 88 The related chain Simpsons Sears was not acquired by the Bay but became Sears Canada in 1978 In 1991 Simpsons disappeared when the last Simpsons store was converted to the Bay banner 89 In 1979 Canadian billionaire Kenneth Thomson won control of the company in a battle with George Weston Limited and acquired a 75 per cent stake for 400 million 90 Thomson sold the company s oil and gas business financial services distillery and other interests for approximately 550 million transforming the company into a leaner more focused operation In the 1980s sales and oil prices slipped while debt from acquisitions piled up which led to Hudson s Bay Company selling its 10 1 per cent stake in HBOG to Dome Petroleum in 1981 91 In 1997 the Thomson family sold the last of its remaining shares 90 Hudson s Bay Company reversed a formidable debt problem in 1987 by shedding non strategic assets such as its wholesale division and getting completely out of the oil and gas business HBC also sold its Canadian fur auction business to Hudson s Bay Fur Sales Canada now North American Fur Auctions The Northern Stores Division was sold that same year to a group of investors and employees which adopted The North West Company name three years later 92 The HBC acquired Towers Department Stores in 1990 combining them with the Zellers chain and Woodward s stores in 1993 converting them into Bay or Zellers stores Kmart Canada was acquired in 1998 and merged with Zellers 92 In 1991 the Bay agreed to stop retailing fur in response to complaints from people opposed to killing animals for this purpose 93 In 1997 the Bay reopened its fur salons to meet the demand of consumers 93 21st century Edit In December 2003 Maple Leaf Heritage Investments a Nova Scotia based company created to acquire shares of Hudson s Bay Company announced that it was considering making an offer to acquire all or some of the common shares of Hudson s Bay Company 94 Maple Leaf Heritage Investments is a subsidiary of B Bay Inc Its CEO and chairman is American businesswoman Anita Zucker widow of Jerry Zucker Zucker had previously been the head of the Polymer Group which acquired another Canadian institution Dominion Textile It had been a member of the International Association of Department Stores from 2001 to 2005 95 On 26 January 2006 the HBC s board agreed to a bid from Jerry Zucker The South Carolina billionaire financier was a longtime HBC minority shareholder In a 9 March 2006 press release 96 the HBC announced that Zucker would replace Yves Fortier as governor and George Heller as CEO becoming the first US citizen to lead the company After Jerry Zucker s death the board named his widow Anita Zucker as HBC Governor and HBC Deputy Governor Rob Johnston as CEO 94 On 16 July 2008 the company was sold to NRDC Equity Partners for just over 1 1 billion 97 a private equity firm based in Purchase New York which already owned Lord amp Taylor the oldest department store in the United States 10 98 The Canadian and U S holdings were transferred to NRDC Equity Partners holding company Hudson s Bay Trading Company as of late 2008 99 HBC s coat of arms logo used from 2009 to 2013 100 In October 2012 the HBC announced a 1 6 billion initial public offering IPO Baker planned to use the IPO to allow Canadian ownership to return to the company and to help pay off debts with other partners Additionally the company also announced that it would re brand The Bay department store chain as Hudson s Bay 101 The new Hudson s Bay brand was launched in March 2013 incorporating a new logo with an updated rendition of the classic Hudson s Bay Company coat of arms designed to be modern and better reflect the company s heritage Following the IPO HBC had also introduced a new corporate logo of its own reviving a wordmark from the original HBC flag but the new logo was not intended to be a consumer facing brand 102 103 104 In January 2016 HBC announced it would expand deeper into digital space with the acquisition of an online flash sales site the Gilt Groupe for US 250 million 105 106 HBC also announced its expansion into the Netherlands in May 2016 with the takeover of 20 former Vroom amp Dreesmann V amp D sites by 2017 V amp D a historic Dutch department store chain had gone bankrupt and shut down in early 2016 107 As of November 2017 the company also expanded retail operations into Europe including five Saks Off Fifth stores in Germany 108 On 1 April 2018 HBC disclosed that more than five million credit and debit cards used for in store purchases had been recently breached by hackers The compromised credit card transactions took place at Saks Fifth Avenue Saks Off 5th and Lord amp Taylor stores The hack had been discovered by Gemini Advisory which called the breach amongst the biggest and most damaging to ever hit retail companies 109 A July 2019 hack of Capital One which provides HBC Mastercards did not affect the HBC credit cards or card applications according to HBC 110 In June 2019 a consortium including chairman Richard Baker Rhone Group WeWork Hanover Investments Luxembourg and Abrams Capital Management announced that it wanted to take the company private 111 The group then owned just over 50 per cent of HBC shares In mid August the consortium said that it owned 57 per cent of the HBC shares By 19 August 2019 however Canadian investment firm Catalyst Capital Group Inc said it had acquired enough shares to block the plan A U S company Land amp Buildings Investment Management the owner of over 6 per cent of the shares had also criticized the Baker plan 112 113 114 In March 2020 Baker and a group of shareholders were successful in taking the company private 14 Aside from Hudson s Bay Saks Fifth Avenue and Saks Off Fifth HBC sold Galeria Kaufhof Gilt Groupe and Lord amp Taylor by August 2019 In June 2018 HBC announced it would sell Gilt Groupe to online fashion store Rue La La for an undisclosed sum In June 2019 HBC announced its intent to sell the last 49 99 percent of Galeria Kaufhof shares it held to Austrian firm Signa Holding In August 2019 Lord amp Taylor was sold to Le Tote for 75 million 115 The remaining stores in the Netherlands were sold by the end of 2019 116 117 By early September 2019 it was clear that HBC was streamlining its operations with the sales of Galeria Kaufhof Gilt Groupe and Lord amp Taylor as the most recent steps A feature article by Bloomberg News mentioned that CEO Helena Foulkes recruited in 2018 had helped improve the bottom line at Hudson s Bay She was selling assets to put the company on more solid financial footing and could then focus on Saks Fifth Avenue and the Bay On the other hand Bloomberg suggested that millennial shoppers prefer to make purchases online or direct from various brands own stores and that HBC has yet to offer something they can t find somewhere else and risks drifting into irrelevance 118 In February 2020 shareholders of the company voted in favour of a plan to become a private company at a special meeting of shareholders Under the plan of arrangement the company will be owned by a group of continuing shareholders led by HBC governor and executive chairman Richard Baker 119 Effective 3 March 2020 the company was delisted from the Toronto Stock Exchange with Richard A Baker replacing Foulkes as CEO 120 121 Acquisition and sale of other chains Edit From 2004 to 2008 the HBC owned and operated a small chain of off price stores called Designer Depot Similar to the Winners and HomeSense retail format Designer Depot did not meet sales expectations and its nine stores were sold 122 Another HBC chain Fields was sold to a private firm in 2012 123 Established in 1950 Fields was acquired by Zellers in 1976 When Zellers was acquired by HBC in 1978 Fields became part of the HBC portfolio 124 In early 2019 HBC announced that all 37 Home Outfitters stores would be phased out by year end 125 In early 2017 the Hudson s Bay Company made an overture to Macy s for a potential takeover of the U S department store chain Later HBC also considered a purchase of Neiman Marcus Group Inc It did not proceed with either deal 126 On March 16 2022 it was announced that HBC and Sycamore Partners were preparing bids to buy Kohl s 127 Zellers Edit A Zellers discount department store operating in Ottawa in 2014 In September 2011 the HBC announced that it would sell the majority of the Zellers leases for 1 825 billion to the U S based retailer Target Corporation and shutter all of their remaining locations by early 2013 128 Target used the acquisition of this real estate as a means to enable its entry in the Canadian market HBC used some of the proceeds to pay down debt and to invest in growing its Hudson s Bay and Lord amp Taylor banners In January 2013 it was confirmed that three Zellers locations re purposed as discount department stores for The Bay and Home Outfitters would remain open 129 130 131 101 The Target Canada chain folded in 2015 the leases were subsequently returned to landlords or re sold to other retailers 132 Zellers was still owned by HBC as two remaining stores following the sale of its lease portfolio to Target Canada in 2011 129 133 134 By September 2019 the re purposed Toronto and Ottawa Zellers locations were still operating as discount department stores In August 2022 the Hudson s Bay Company announced it would be reviving the Zellers brand through online shopping and physical locations in 2023 135 136 Lord amp Taylor Edit Lord amp Taylor in Manhasset New York On 24 January 2012 the Financial Post reported that Richard Baker owner of NDRC and governor of Hudson s Bay Company had dissolved Hudson s Bay Trading Company and that the HBC would now also operate the Lord amp Taylor chain At the time the company was run by president Bonnie Brooks 137 Baker remained governor and CEO of the business and Donald Watros stayed on as chief operating officer 11 In 2018 HBC in a joint venture sold the building that housed its flagship Lord amp Taylor store on Fifth Avenue in Manhattan to WeWork Property Advisors for 850 million WeWork was set to occupy the uppermost floors of the building with the rest of the building remaining a flagship space for Lord amp Taylor 138 139 The deal also included the use of floors of certain HBC owned department stores in New York Toronto Vancouver and Germany as WeWork s shared office workspaces 108 140 In August 2019 HBC announced that it would sell their Lord amp Taylor business to Le Tote Inc which was to pay CA 99 5 million in cash when the deal closes probably before year end 2019 and an additional CA 33 2 million two years later HBC was to get a 25 per cent equity stake in Le Tote 141 The buyer would retain the stores inventory with an estimated value of CA 284 2 million The deal expected to close before year end required HBC to pay the stores rent for at least three years leading one news report to describe it as Not a clean exit The liability to HBC for the rents was estimated at CA 77 million cash per year 142 143 Saks Inc Edit Saks Fifth Avenue flagship store Saks Fifth Avenue is a chain owned by HBC since 2013 On 29 July 2013 Hudson s Bay Company announced that it would buy Saks Inc operator of the U S Saks Fifth Avenue brand for US 2 9 billion or 16 per share 144 145 The merger was completed on 3 November 2013 146 The company also stated that as a result of the purchase Canadian consumers would see Saks stores arriving in their country soon 147 After the purchase was finalized HBC had a net loss of 124 2 million in the 2013 3Q due to the cost of the purchase and promotions 148 149 Galeria Kaufhof Edit A Galeria Kaufhof in Koln The chain was owned by HBC from 2015 to 2019 HBC had 135 acquired the German department store chain Galeria Kaufhof and its Belgian subsidiary from Metro Group in September 2015 for US 3 2 billion 150 151 On 1 November 2017 HBC received an unsolicited offer from Austrian firm Signa Holding for Kaufhof and other real estate 152 An unnamed source told CNBC that the value of the offer was approximately 3 billion euros 153 This information on the offer was also reiterated in a press release by activist shareholder Land amp Buildings Investment Management which urged HBC to accept the offer the company replied that the offer was incomplete and did not provide indication of financing for the deal 154 In late 2018 Galeria Kaufhof and Karstadt merged as part of a spin off 155 HBC announced its intent to sell the last 49 99 percent of Galeria Kaufhof shares it held to Austrian firm Signa Holding in June 2019 The sale of the real estate in Germany had gained US 1 5 billion 1 billion for HBC 156 At that time HBC still had a retail operation in the Netherlands using the Vroom amp Dreesmann locations it had purchased in 2017 On 31 August 2019 the company announced that all 15 of those stores would be sold by year end 157 158 Operations EditThe HBC is diversified into joint ventures and other types of business products The HBC has credit card mortgage and personal insurance branches These other products and services are joint partnerships with other corporations The HBC also has an HBC Rewards program where Rewards points can be redeemed in house The HBC is involved in community and charity activities The HBC Rewards Community Program raises funds for community causes The HBC Foundation is a charity agency involved in social issues and service The HBC used to sponsor the annual HBC Run for Canada a series of public participation runs and walks held across the country on Canada Day to raise funds for Canadian athletes The company discontinued this event in 2009 159 Olympic outfitter Edit Alexandre Bilodeau a winter Olympian for Canada wearing HBC apparel made officially for the Canadian Olympic team The HBC was the official outfitter of clothing for members of the Canadian Olympic team in 1936 1960 1964 1968 2006 2008 2010 2012 2014 and 2016 The sponsorship has been renewed through 2020 Since the late 2000s HBC has used its status as the official Canadian Olympics team outfitter to gain global exposure as part of a turnaround plan that included shedding under performing brands and luring new high end brands 160 On 2 March 2005 the company was announced as the new clothing outfitter for the Canadian Olympic team in a 100 million deal providing apparel for the 2006 2008 2010 and 2012 Games having outbid the existing Canadian Olympic wear supplier Roots Canada which had supplied Canada s Olympic teams from 1998 to 2004 161 162 The Canadian Olympic collection is sold through Hudson s Bay and Zellers until 2013 when the Zellers leases were sold to Target Canada HBC s 2006 Winter Olympics and 2008 Summer Olympics uniforms and toques received a mixed reception for their multicoloured stripes green red yellow blue which seemed to be not so subtle advertising for HBC rather than representing the Canadian Olympic team s traditional colours of red and white with black as a secondary in contrast to well received Root s 1998 collection with its trendy red letter jackets and Poor Boy caps HBC produced 80 per cent to 90 per cent of their Olympic clothes in China which was criticized as Roots ensured that the Olympic clothes were made in Canada using Canadian material 163 HBC s apparel for the 2010 Winter Olympics held in Vancouver proved to be extremely successful in part because Canada was the host country and their athletes had a record medal haul The Red Mittens red and white mittens featuring a large maple leaf that were sold for CA 10 with one third of the proceeds going to the Canadian Olympic Committee proved very popular as were the Canada hoodies 164 The HBC s 2010 Winter Olympics apparel was also controversial due to a knitted machine made sweater that looked like a Cowichan sweater 165 After a meeting between HBC representatives and Cowichan Tribes a compromise was made between the parties knitters would have an opportunity to sell their sweaters at the downtown Vancouver HBC store alongside the HBC imitations 166 Red mittens sold by HBC for the 2010 Winter Olympics in Vancouver Lord Sebastian Coe chairman of the 2012 London Olympic Games Organizing Committee who attended the Vancouver Olympics noted that the Canadians were passionate in embracing the Games with their Canada hoodies and their red mittens of which 2 6 million pairs sold that year 167 168 HBC has continued to produce these red mittens for subsequent Olympic Games 169 In 2021 it was announced that beginning with the 2022 Winter Olympics Lululemon would replace the HBC as Canada s Olympic outfitter 170 Archives EditSee also Hudson s Bay Company Archives The legacy of the HBC has been maintained in part by the detailed record keeping and archiving of material by the company Before 1974 the records of the HBC were kept in the London office headquarters The HBC opened an archives department to researchers in 1931 In 1974 Hudson s Bay Company Archives HBCA were transferred from London and placed on deposit with the Manitoba archives in Winnipeg The company granted public access to the collection the following year 171 On 27 January 1994 the company s archives were formally donated to the Archives of Manitoba 172 At the time of the donation the appraised value of the records was nearly 60 million A foundation Hudson s Bay Company History Foundation funded through the tax savings resulting from the donation was established to support the operations of the HBC Archive as a division of the Archives of Manitoba along with other activities and programs 173 More than two kilometres 1 2 mi of filed documents and hundreds of microfilm reels are now stored in a special climate controlled vault in the Manitoba Archives Building citation needed In 2007 Hudson s Bay Company Archives became part of the United Nations Memory of the World Programme project under UNESCO The records covered the HBC history from the founding of the company in 1670 The records contained business transactions medical records personal journals of officials inventories company reports etc 174 Corporate governance Edit Heraldic achievement of Hudson s Bay Company 100 Argent a cross gules between four beavers passant proper Crest On a chapeau gules turned up ermine a fox sejant proper Supporters Two bucks proper Latin Motto Latin pro pelle cutem lit skin for leather 175 apparently a play on Job 2 4 Pellem pro pelle 176 skin for skin 177 178 179 The Company s flag from 1682 to 1707 The Company s flag from 1707 to 1801 Flag of the Hudson s Bay Company from 1801 to 1965 As of January 2018 update the members of the board of directors of Hudson s Bay Company are 180 Richard A Baker Robert C Baker Eric Gross Steven Langman David G Leith William L Mack Lee S Neibart Denise Pickett Wayne Pommen Earl Rotman Matthew Rubel Andrea Wong Corporate hierarchy Edit In the 18th and 19th centuries Hudson s Bay Company operated with a very rigid employee hierarchy This hierarchy essentially broke down into two levels the officers and the servants Comprising the officers were the factors masters and chief traders clerks and surgeons The servants were the tradesmen boatmen and labourers The officers essentially ran the fur trading posts They had many duties which included supervising the workers in their trade posts valuing the furs and keeping trade and post records In 1821 when Hudson s Bay Company and the North West Company merged the hierarchy became even stricter and the lines between officers and servants became virtually impossible to cross Officers in charge of individual trading posts had much responsibility because they were directly in charge of enforcing the policies made by the governor and committee the board of the company One of these policies was the price of particular furs and trade goods These prices were called the Official and Comparative Standards Made Beaver the quality measurement of the pelt was the means of exchange used by Hudson s Bay Company to define the Official and Comparative Standards Because the governor was stationed in London England they needed to have reliable officers managing the trade posts halfway around the world Because the fur trade was a very dynamic market HBC needed to have some form of flexibility when dealing with prices and traders Price fluctuation was deferred to the officers in charge of the trade posts and the head office recorded any difference between the company s standard and that set by the individual officers Overplus or any excess revenue gained by officers was strictly documented to insure that it was not being pocketed and taken from the company This strict yet flexible hierarchy exemplifies how Hudson s Bay Company was able to be so successful while still having its central management and trade posts located so far apart 181 182 Hierarchichal order pre 1821 182 Job TitleOFFICERS1 Chief Factor2 Second Factor 3 Master of a trading station 4 Sloopmaster Surgeon5 Writer6 ApprenticeSERVANTS1 Tradesman Steersman2 Canoeman Bowsman3 Middleman4 LabourerHierarchical order 1821 1871 182 183 Job Title Pay per yearCOMMISSIONED OFFICERS1 Governor of Rupert s Land Performance Pay2 Chief Factor Two shares3 Chief Trader One shareGENTLEMEN4 Clerk 75 1005 Apprenticed Clerk 25 27NON GENTLEMEN6 Postmaster 40 757 Guide Interpreter Sloopmaster 30 458 Apprentice postmasterSERVANTS9 Tradesman Steersman Boatman Bowsman Middleman Labourer 16 40Progression Edit In the 19th century career progression for officers together referred to as the Commissioned Gentlemen was to enter the company as a fur trader Typically they were men who had the capital to invest in starting up their trading They sought to be promoted to the rank of Chief Trader A Chief Trader would be in charge of an individual post and was entitled to one share of the company s profits Chief Factors sat in council with the Governors and were the heads of districts They were entitled to two shares of the company s profits or losses The average income of a Chief Trader was 360 and that of a Chief Factor was 720 184 Governors Edit Chronological list of Governors of the Hudson s Bay Company 185 1670 82 Prince Rupert of the Rhine 186 187 1683 85 James Stuart Duke of York resigned as governor to become James II King of England 188 1685 92 John Churchill Earl of Marlborough 189 190 1692 96 Sir Stephen Evance 191 1696 1700 Sir William Trumbull 192 1700 12 Sir Stephen Evance 1712 43 Sir Bibye Lake 193 1744 46 Benjamin Pitt 194 1746 50 Thomas Knapp 195 1750 60 Sir Atwell Lake 196 1760 70 Sir William Baker 197 1770 82 Sir Bibye Lake Jr 198 1782 99 Samuel Wegg 199 1799 1807 Sir James Winter Lake 200 1807 12 William Mainwaring 201 1812 22 Joseph Berens 202 1822 52 Sir John Henry Pelly in 1826 Simpson becomes governor of the Canadian region 203 1852 56 Andrew Wedderburn Colvile 204 1856 58 John Shepherd 205 1858 63 Henry Hulse Berens 206 1863 68 Sir Edmund Walker Head 207 1868 69 John Wodehouse 1st Earl of Kimberley 1869 74 Sir Stafford Henry Northcote 208 1874 80 George Joachim Goschen 209 1880 89 Eden Colvile 210 1889 1914 Donald Alexander Smith 211 212 1914 15 Sir Thomas Skinner 213 1916 25 Sir Robert Molesworth Kindersley 1925 31 Charles Vincent Sale 1931 52 Sir Patrick Ashley Cooper first governor to visit HBC operations in Canada 214 1952 65 William Tony Keswick 1965 70 Derick Heathcoat Amory 1970 82 George T Richardson 1982 94 Donald S McGiverin 1994 97 David E Mitchell 1997 2006 L Yves Fortier 2006 08 Jerry Zucker 2008 Anita Zucker first female governor 2008 present Richard BakerMiscellany EditRent obligation under charter EditUnder the charter establishing Hudson s Bay Company the company was required to give two elk skins and two black beaver pelts to the English king then Charles II or his heirs whenever the monarch visited Rupert s Land The exact text from the 1670 Charter reads Yielding and paying yearly to us and our heirs and successors for the same two Elks and two Black beavers whensoever and as often as We our heirs and successors shall happen to enter into the said Countries Territories and Regions hereby granted 5 The ceremony was first conducted with the Prince of Wales the future Edward VIII in 1927 then with King George VI in 1939 and last with his daughter Queen Elizabeth II in 1959 and 1970 On the last such visit the pelts were given in the form of two live beavers which the Queen donated to the Winnipeg Zoo in Assiniboine Park However when the company permanently moved its headquarters to Canada the Charter was amended to remove the rent obligation Each of the four rent ceremonies took place in or around Winnipeg 215 HBC explorers builders and associates Edit James Knight c 1640 c 1721 was a director of Hudson s Bay Company and an explorer who died in an expedition to the Northwest Passage 216 217 218 Henry Kelsey c 1667 1 November 1724 a k a the Boy Kelsey was an English fur trader explorer and sailor who played an important role in establishing Hudson s Bay Company in Canada In 1690 Henry Kelsey embarked on a 2 year exploration journey that made him the first white man to see buffalo 219 Thanadelthur c 1697 5 February 1717 was a woman of the Chipewyan nation who served as a guide and interpreter for Hudson s Bay Company 220 Samuel Hearne 1745 92 was an English explorer fur trader author and naturalist In 1774 Hearne built Cumberland House for the Hudson s Bay Company its first interior trading post and the first permanent settlement in present Saskatchewan 46 47 David Thompson 30 April 1770 10 February 1857 was a British Canadian fur trader that worked for both the Hudson s Bay Company and the North West Trading Company He is best known for his extensive explorations and map making activities He mapped almost half of North America between the 46th and 60th parallels from the St Lawrence and Great Lakes all the way to the Pacific 221 Thomas Douglas Lord Selkirk 20 June 1771 8 April 1820 was a Scottish peer He was a Scottish philanthropist who as HBC s majority shareholder arranged to purchase land at Red River to establish a colony for dispossessed Scottish immigrants 222 Isobel Gunn or Isabella Gunn c 1780 7 November 1861 also known as John Fubbister or Mary Fubbister was a Scottish labourer employed by Hudson s Bay Company HBC noted for having passed herself as a man thereby becoming the first European woman to travel to Rupert s Land now part of Western Canada 223 George Simpson 1787 7 September 1860 was the Canadian governor of Hudson s Bay Company during the period of its greatest power a period which began in 1821 following the company s merger with the North West Trading Company 224 225 John McLean c 1799 8 September 1890 a Scoto Canadian trapper and trader who successfully crossed the entire Labrador Peninsula opening up an overland route between Fort Smith on Lake Melville and Fort Chimo on Ungava Bay first European to discover Churchill Falls on the Churchill River 226 Donald Smith 1st Baron Strathcona and Mount Royal 6 August 1820 21 January 1914 at various times Chief Factor of the Labrador district Commissioner of the Montreal district and President of the Council of the Northern Department who pacified Louis Riel during the Red River Rebellion of 1870 thus enabling the transfer of Rupert s Land from the HBC to the fledgling government of Canada Later he became Governor of the HBC 227 Dr John Rae Inuktitut Aglooka ᐊᒡᓘᑲ English long strider 30 September 1813 22 July 1893 was a Scottish doctor who explored Northern Canada surveyed parts of the Northwest Passage and reported the fate of the Franklin Expedition 228 229 William Keswick 15 April 1834 9 March 1912 and grandson Sir William Johnstone Keswick 1903 90 served at HBC the former as a director and later as governor from 1952 to 1965 The Keswick family are the Scottish business dynasty that controls Hong Kong based Jardine Matheson one of the original British trading houses or Hongs in British Hong Kong HBC sternwheelers and steamships Edit Main article Hudson s Bay Company vessels Beaver 1835 74 Otter 1852 95 230 Anson Northup 1859 60 231 Caledonia 1891 98 She ran aground on rocks at Port Simpson during a storm and her hull was destroyed Her engines were put into the Caledonia 2 Caledonia 2 1898 1909 Her machinery was from the Caledonia 1 Mount Royal 1902 07 Princess Louise 1878 83 Strathcona 1900 Port Simpson 1907 12 Hazelton 1907 12 Distributor 1920 48 232 Rivals Edit The HBC is the only European trading company to have survived It outlived all its rivals 233 Years Company Fate1551 1917 Muscovy Company Taken over by Soviet Russia and now operates as charity 1581 1825 Levant Company Dissolved1600 1874 Honourable East India Company Dissolved1602 1800 Dutch East India Company Went bankrupt and assets taken over by Dutch government1621 1791 Dutch West India Company Bought by the Dutch government1672 1752 Royal African Company Replaced by the African Company of Merchants which folded in 1821 1711 1850s South Sea Company Abolished by bankruptcy and the Louisiana Purchase1779 1821 North West Company Merged with the HBC1799 1867 Russian American Company Folded with the sale of Russian America to the U S and commercial assets in North America sold to Hutchinson Kohl amp Company now as the Alaska Commercial Company 1808 1842 American Fur Company FoldedSee also Edit Canada portalBeaver hat British colonization of the Americas Frontier 2016 TV series Home Outfitters Hudson s Bay Company vessels Hudson s Bay point blanket Hudson s Bay tokens James Douglas governor List of department stores by country Canada List of Hudson s Bay Company trading posts List of trading companies New Caledonia Canada North West Rebellion The Romance of the Far Fur Country VoyageursReferences Edit Our Company Hudson s Bay Company Archived from the original on 30 October 2020 Retrieved 26 October 2020 News releases www stockmanngroup com www stockmanngroup com Retrieved 20 June 2021 Williams Pat 24 October 2009 Hudson s Bay Company Canadiana Connection Archived from the original on 28 February 2010 Retrieved 20 April 2013 Shaw Hollie 6 March 2013 The Bay gets a new logo for first time in almost 50 years Financial Post Retrieved 20 August 2013 a b c The Royal Charter of the Hudson s Bay Company HBC Heritage Archived from the original on 7 October 2015 Retrieved 5 October 2015 a b c Our History Business Fur Trade The Deed of Surrender HBC Heritage Retrieved 6 October 2015 a b Our History Overview HBC Heritage Archived from the original on 1 October 2015 Retrieved 5 October 2015 a b Our History Timelines Early Stores HBC Heritage Archived from the original on 27 September 2015 Retrieved 6 October 2015 a b Hudson s Bay Company History Funding Universe Retrieved 2 September 2012 a b Bell Kevin 1 September 2012 NRDC Buys Hudson s Bay Says Lord amp Taylor to Expand Update2 Bloomberg Retrieved 16 July 2008 a b Shaw Hollie 23 January 2012 Hudson s Bay Co completes purchase of Lord amp Taylor report Financial Post Lombardo Cara Kapner Suzanne 16 March 2022 Sycamore and Hudson s Bay Prepare Kohl s Bids WSJ Hudson s Bay consolidates offices at Brookfield Place The Real Deal 24 September 2014 a b Shecter Barbara 27 February 2020 Baker s HBC privatization bid approved after plenty of noise and aggravation Financial Post Retrieved 2 February 2022 Bain Marc 5 March 2021 Saks is turning its back on department stores Quartz a b Clark Evan 21 June 2021 Saks Off 5th Splits E commerce and Retail WWD Jackson Adam 21 June 2021 Saks Off 5th Will Become 1 Billion Standalone Online Business Bloomberg Thomas Lauren 5 March 2021 Saks Fifth Avenue owner spins e commerce site into separate business CNBC a b Howland Daphne 22 June 2021 With 200M from private equity Saks Off 5th online will go it alone RetailDive Hudson s Bay splitting stores from online marketplace to create two businesses CTV News 12 August 2021 HBC Introduces Development Division To Optimize Real Estate PYMNTS com 21 October 2020 Patterson Craig 20 October 2020 Hudson s Bay Company Announces Division to Redevelop Real Estate Assets Retail Insider Chan Kenneth 21 October 2020 Hudson s Bay launches new real estate division to redevelop its stores Daily Hive a b c Newman 1985 p 64 a b c Our History People Explorers Radisson and des Groseilliers HBC Heritage Archived from the original on 16 October 2015 Retrieved 7 October 2015 Newman 1985 p 65 Rich 1958 pp 36 38 42 1668 Des Groseilliers aboard the 12 metre ship Nonsuch travels to James Bay HBC Heritage Timeline Retrieved 5 October 2015 Rich 1958 pp 38 42 Royal Charter of the Hudson s Bay Company HBC Heritage Hudson s Bay Company 2015 1670 Archived from the original on 7 October 2015 Retrieved 3 December 2020 the said Land be from henceforth reckoned and reputed as one of our Plantations or Colonies in America called Rupert s Land Taylor Isaac 1898 Rupert s land Names and Their Histories A Handbook of Historical Geography and Topographical Nomenclature 2nd ed London Rivingtons p 240 Retrieved 3 December 2020 Rupert s Land an immense territory on Rupert s River south west of Hudson s Bay was discovered in 1668 by Captain Zacharias Gillam and named after Prince Rupert the first governor of the Hudson s Bay Company constituted in 1670 by Charles II who granted Rupert s Land to Prince Rupert and other noblemen Canada Drainage Basins The National Atlas of Canada 5th edition Natural Resources Canada 1985 Archived from the original on 4 March 2011 Retrieved 24 November 2010 Rupert s Land The Canadian Encyclopedia Historica Canada Retrieved 3 May 2017 Voorhis Ernest 1930 Historic Forts and Trading Posts of the French Regime and of the English Fur Trading Companies enhaut ca voor1 Government of Canada Retrieved 24 April 2016 Ernest Voorhis 24 April 2016 Historic Forts and Trading Posts of the French Regime and of the English Fur Trading Companies enhaut ca voor1 Government of Canada orig Retrieved 24 April 2016 Voorhis Ernest 1930 Historic Forts of the French Regime and of the English Trading Companies enhaut ca voor1 Government of Canada Retrieved 24 April 2016 Christianson David J 1980 New Severn or Nieu Savanne The Identification of an Early Hudson Bay Fur Trade Post PDF Master s thesis McMaster University pp 16 28 Hbc Heritage The Standard of Trade hbcheritage ca Archived from the original on 16 April 2016 Retrieved 24 April 2016 Our History Business Fur Trade Trading Ceremony at York Factory 1780s HBC Heritage Archived from the original on 13 March 2016 Our History Business Fur Trade Standard of Trade HBC Heritage Archived from the original on 16 April 2016 a b c d Newman Peter C 1986 Company of Adventurers New ed Markham Ont Penguin Books Canada ISBN 978 0140067200 Newman 1985 p 352 Canadian Museum of Civilization Display Our History The Hudson s Bay Company Point Blanket FAQs HBC Heritage Retrieved 6 October 2015 Rich 1958 pp 38 42 491 a b Chichester Henry Manners 1891 Hearne Samuel In Stephen Leslie Lee Sidney eds Dictionary of National Biography Vol 25 London Smith Elder amp Co p 335 a b Our History People Explorers Samuel Hearne Hudson s Bay Company Retrieved 14 November 2007 Hudson s Bay Company Henley House Archives of Manitoba Hudson s Bay Company Retrieved 10 September 2021 Fort Richmond Archives of Manitoba Hudson s Bay Company Retrieved 10 September 2021 Brunswick House post journals Archives of Manitoba Hudson s Bay Company Retrieved 10 September 2021 Hudson s Bay Company New Brunswick Archives of Manitoba Hudson s Bay Company Retrieved 10 September 2021 Hudson s Bay Company Gloucester House Archives of Manitoba Hudson s Bay Company Retrieved 10 September 2021 Hudson s Bay Company Upper Hudson House Archives of Manitoba Hudson s Bay Company Retrieved 10 September 2021 Hudson s Bay Company Lower Hudson House Archives of Manitoba Hudson s Bay Company Retrieved 10 September 2021 Hudson s Bay Company Mesackamee Archives of Manitoba Hudson s Bay Company Retrieved 10 September 2021 Hudson s Bay Company Sturgeon Lake Ont Archives of Manitoba Hudson s Bay Company Retrieved 10 September 2021 Newman 1985 p 354 Our History Acquisitions Fur Trade The North West Company Archived from the original on 13 January 2016 Lyle Dick The Seven Oaks Incident and the Construction of a Historical Tradition 1816 to 1970 Journal of the Canadian Historical Association Revue de la Societe historique du Canada 2 1 1991 91 113 online Early Trading Networks Canadian Geographic magazine Archived from the original on 7 October 2015 Retrieved 6 October 2015 a b Newman Peter C 1988 Caesars of the wilderness Markham Ont Penguin ISBN 978 0140086300 Galbraith 1957 pp 8 23 Ryan Michael H 2022 Paper Money of a Peculiar Character The Notes of the Hudson s Bay Company 1820 1870 https ssrn com author 1846992 Retrieved 6 December 2022 McCullough A B 1996 Money and Exchange in Canada to 1900 Dundurn pp 230 232 ISBN 978 1 5548 8228 1 Retrieved 6 October 2015 Galbraith 1957 pp 60 72 Gibson James R 1992 Otter Skins Boston Ships and China Goods The Maritime Fur Trade of the Northwest Coast 1785 1841 Montreal Quebec McGill Queen s University Press pp 60 61 ISBN 978 0 7735 2028 8 Retrieved 6 October 2015 Zeller Suzanne 1 July 2006 Humboldt and the Habitability of Canada s Great Northwest Geographical Review 96 3 382 398 doi 10 1111 j 1931 0846 2006 tb00257 x S2CID 159102947 via JSTOR Mackie Richard Somerset 1998 Trading beyond the mountains the British fur trade on the Pacific 1793 1843 Repr ed Vancouver UBC Press pp 106 107 ISBN 978 0 7748 0613 8 T W Paterson column Peter Skene Ogden the latest victim of map mending BC Local News 7 September 2019 Retrieved 17 December 2020 Maloney Alice B March 1936 Hudson s Bay Company in California Oregon Historical Quarterly Spoehr A A 19th Century Chapter in Hawaii s maritime history Hawaiian Journal of History 1988 vol 22 Van Voorhies Holman Frederick 2012 Dr John McLoughlin the Father of Oregon Nabu Press ISBN 978 1279056677 Records of the International Finance Society Archives Hub Jisc Retrieved 16 November 2018 John A Macdonald Canada History Access HT Archived from the original on 5 April 2007 Retrieved 17 November 2013 Hudson s Bay Company The Canadian Encyclopedia Retrieved 16 November 2018 Owram Doug 2007 Francis R Douglas Kitzan C eds The Promise of the West as Settlement Frontier The Prairie West as Promised Land Calgary Alberta University of Calgary Press pp 3 28 Retrieved 2 February 2015 Our History Hudson s Bay Company Archived from the original on 31 May 2015 Retrieved 6 October 2015 Our History People Builders Burbidge HBC Heritage Archived from the original on 26 September 2015 Retrieved 6 October 2015 a b c d e f Jackson Alexander Young 15 May 1965 Men and books Memories of a fellow artist Frederick Grant Banting Canadian Medical Association Journal 92 1077 1084 via University of Toronto Libraries 1925 1949 Historical Timeline of the Northwest Territories Historical Timeline of the Northwest Territories Retrieved 13 March 2019 a b c d e f Tester Frank James McNicoll Paule November 2008 A Voice of Presence Inuit Contributions toward the Public Provision of Health Care in Canada 1900 1930 Social History Histoire Sociale 41 82 535 561 doi 10 1353 his 0 0034 S2CID 144773818 Infantry Ashante 6 March 2013 The Hudson s Bay Company unveils new logo for Canada s oldest department store The Toronto Star ISSN 0319 0781 Retrieved 14 March 2022 Our History Acquisitions Retail Morgan s HBC Heritage Archived from the original on 6 October 2015 Retrieved 6 October 2015 Our History ConocoPhilips Canada Retrieved 6 October 2015 Our History Timelines HBC 1970 HBC Heritage Sweetman Keri Harrington Denise 18 November 1981 600 to lose jobs as Bay closes Shop Rite stores Ottawa Citizen Retrieved 6 October 2015 Our History Timelines Acquisitions HBC Heritage Archived from the original on 27 September 2015 Retrieved 6 October 2015 HBC Heritage Zellers Retrieved 27 July 2020 HBC Heritage The Robert Simpson Company hbcheritage ca Retrieved 11 December 2018 The Robert Simpson Company Limited HBC HBC Archived from the original on 23 August 2017 Retrieved 22 August 2017 a b Ray Arthur J 2 April 2009 Hudson s Bay Company The Canadian Encyclopedia Historica Canada Retrieved 6 October 2015 Sawyer Deborah C 2 February 2006 Dome Petroleum Limited The Canadian Encyclopedia online ed Historica Canada Archived from the original on 7 October 2015 Retrieved 17 June 2010 a b Hbc Heritage Timeline hbcheritage ca a b 1991 Hudson s Bay Company ends its fur trade CBC Archives Canadian Broadcasting Corporation Retrieved 10 January 2018 a b Hudson s Bay Company Privco com Retrieved 7 October 2015 List of members www iads org Retrieved 20 June 2021 Stauth Hillary 9 March 2006 Hudson s Bay Company Announces Realignment of Senior Management Team and Appoints New Board of Directors Press release Hudson s Bay Company Archived from the original on 16 March 2006 Retrieved 6 October 2015 Wong Tony 17 July 2008 The Bay sold to U S retailer Toronto Star Retrieved 2 February 2022 Friend David 16 July 2008 New owner to spruce up Bay Toronto Star Retrieved 16 July 2008 NRDC Equity snaps up Hudson s Bay Co Reuters 16 July 2008 a b HBC Heritage Coat of Arms Hudson s Bay Company Retrieved 3 May 2020 a b Strauss Marina 17 October 2012 HBC launches IPO as new rivals loom The Globe and Mail Toronto Retrieved 24 October 2012 Krashinsky Susan 11 March 2013 New logo old name The Bay returns to its roots The Globe and Mail Toronto Retrieved 12 March 2013 Hudson s Bay Celebrates Its Past Present and Future with Modern New Logo Press release Hudson s Bay Company Retrieved 6 March 2013 Shaw Hollie 13 March 2013 The Bay gets a new logo for first time in almost 50 years National Post Retrieved 7 March 2013 Saks Owner Clinches Deal for Gilt Groupe CBC News 7 January 2016 Archived from the original on 2 January 2022 Retrieved 23 October 2016 Rue La La Buys Gilt Groupe Combining Two Popular Flash Sale Sites Fortune Retrieved 6 June 2018 HBC to expand to the Netherlands CBC News 17 May 2016 Retrieved 17 May 2016 a b HBC mulls reported 3 billion euro offer for lagging European business Financial Post 1 November 2017 Retrieved 10 January 2018 Wattles Jackie 2018 Saks Lord amp Taylor breach Data stolen on 5 million cards CNNMoney Retrieved 6 April 2018 Bennardo Melissa 30 July 2019 Everything Canadians need to know about the Capital One data breach CBC News Retrieved 22 March 2022 Hirsch Lauren 10 June 2019 Chairman of Saks owner Hudson s Bay Co puts in bid to take retailer private CNBC Retrieved 22 March 2022 Chen Cathaleen 10 June 2019 Can Going Private Save Hudson s Bay Company Business of Fashion Retrieved 22 March 2022 Catalyst buys 18M HBC shares in move to block privatization plan CBC News 19 August 2019 Retrieved 22 March 2022 Schechter Barbara Edmiston Jake 19 August 2019 Catalyst adds to stake in HBC as battle over retailer s fate heats up Financial Post Retrieved 22 March 2022 Hirsch Lauren Wu Jasmine 28 August 2019 Hudson s Bay to sell Lord amp Taylor for 100 million to clothing rental service Le Tote CNBC Valinsky Jordan 21 October 2019 The owner of Saks Fifth Avenue is going private CNN Business Hudson s Bay to close Dutch stores Reuters 31 August 2019 Rastello Sandrine Robinson Ashley 5 September 2019 Founded in 1670 to Trade Furs Hudson s Bay Chases Relevance Bloomberg Retrieved 22 March 2022 Hudson s Bay Company Shareholders Approve Privatization Transaction Odessa American Associated Press Archived from the original on 28 February 2020 Retrieved 28 February 2020 Hudson s Bay Company Announces Court Approval of Privatization Transaction National Post 28 February 2020 HBC chairman Richard Baker replacing Helena Foulkes as CEO The Globe and Mail 3 March 2020 Hudson s Bay Eager to Log Onto New Era Financial Post National Post Archived from the original on 16 May 2008 Retrieved 8 April 2008 Fields Stores to Flourish Again in Western Canada Canada Newswire 1 May 2012 Archived from the original on 6 June 2012 Retrieved 1 June 2012 Our History Acquisitions Retail Fields HBC Heritage Evans Pete 21 February 2019 HBC shutting all 37 Home Outfitters stores across Canada CBC News Retrieved 22 March 2022 No timeline for turnaround as HBC cuts deep The Globe and Mail 9 June 2017 Retrieved 10 January 2018 Thomas Lauren 16 March 2022 Kohl s shares jump 17 after reports say Hudson s Bay Sycamore are preparing bids CNBC Retrieved 10 May 2022 John Tilak UPDATE 2 Target to enter Canada with Zellers deal own plans Target plans to open up to 150 stores in Canada Reuters January 13 2011 a b Weisblott Marc Zellers will stick around Canada s three biggest cities after Target arrives O Canada com Postmedia Network Archived from the original on 14 January 2013 Retrieved 14 January 2013 Target Finalizes Real Estate Transaction with Selection of 84 Additional Zellers Leases Press release Minneapolis Minnesota Target Corporation 23 September 2011 Retrieved 26 September 2011 Zellers to close last 64 stores as Target moves into Canada Toronto Star 26 July 2012 Target returns auctions off leases on most Canadian properties CBC News Retrieved 8 May 2015 HBC store locator Archived from the original on 11 March 2014 Retrieved 2 March 2014 Zellers store to stay open at Semiahmoo Shopping Centre Archived from the original on 30 January 2013 Retrieved 14 January 2013 Canadian press The 17 August 2022 Hudson s Bay to resurrect discount retail chain Zellers Canadian broadcasting corporation p 1 Retrieved 17 August 2022 Sagan Aleksandra 6 September 2019 Hudson s Bay to shutter last 2 Zellers stores in Toronto Ottawa Global News Retrieved 22 March 2022 America s Lord amp Taylor gets some family help The Globe and Mail dead link HBC and WeWork Enter into Global Multi Faceted Strategic Relationship businesswire com 24 October 2017 Retrieved 10 January 2018 Hodges David 1 November 2017 HBC should accept unsolicited 4 5B offer for German real estate investor ctvnews ca Retrieved 10 January 2018 Hudson s Bay Company Responds to Land amp Buildings Press Release businesswire com Press release 2 November 2017 Retrieved 10 January 2018 Reuters Hudson s Bay to sell Lord Taylor for 100 million HBC and Le Tote Enter Into Agreement for Acquisition of Lord Taylor Press release Hudson s Bay Company 28 August 2019 Retrieved 22 March 2022 via Businesswire Edmiston Jake 28 August 2019 Not a clean exit Hudson s Bay sells historic Lord amp Taylor for 133 million Financial Post Retrieved 22 March 2022 Saks snapped up by Canada s Hudson s Bay in 2 9bn deal BBC News 29 July 2013 Retrieved 29 July 2013 Evans Pete 29 July 2013 Hudson s Bay to bring Saks to Canada in 2 9B takeover CBC News Retrieved 6 October 2015 Hudson s Bay completes acquisition of Saks Yahoo Finance Associated Press 4 November 2013 Retrieved 5 October 2015 Hudson s Bay to buy Saks bring stores to Canada Financial Post Reuters 29 July 2013 Retrieved 7 October 2015 Moin David 11 December 2013 HBC s Net loss Grows to 124 2M Women s Wear Daily Fairchild Publishing Retrieved 11 December 2013 Shoulberg Warren 22 February 2019 Hudson s Bay Company Teardown Continues With Closing of Home Outfitters 20 Saks Off Fifth Stores Forbes Retrieved 22 March 2022 Hudson s Bay Company to Acquire Galeria Holding Parent of Kaufhof 1 Department Store in Germany Press release Hudson s Bay Company Archived from the original on 27 September 2015 Retrieved 5 October 2015 Hudson s Bay Company Completes Acquisition of GALERIA Holding Hudson s Bay Company 30 September 2015 Archived from the original on 25 June 2016 Retrieved 4 June 2016 Hodges David 1 November 2017 HBC should accept unsolicited 4 5B offer for German real estate investor ctvnews ca Retrieved 10 January 2018 Hirsch Lauren 1 November 2017 Saks Fifth Avenue owner continues to face pressure amid a bid for its European department store CNBC Retrieved 10 January 2018 Kopun Francine 1 November 2017 Hudson s Bay urged to accept bid for German assets Toronto Star Retrieved 10 January 2018 Hudson s Bay Signa form European retail real estate joint venture Reuters on 11 September Reuters Hudson s Bay to sell Lord Taylor for 100 million Loeb Walter 10 June 2019 Hudson s Bay Sells European Stake Might Go Private Forbes Retrieved 22 March 2022 Munsterman Ruben 31 August 2019 Hudson s Bay to Close Dutch Unit and Dismiss 1 400 Workers Report Bloomberg Retrieved 22 March 2022 HBC Run for Canada 2008 Archived from the original on 21 April 2008 Strauss Marina 28 November 2013 Meet the man trying to shake up luxury retail in Canada The Globe and Mail Toronto Retrieved 6 October 2015 Roots no longer outfitting Olympic teams co founder says Toronto Star 7 April 2008 Retrieved 6 October 2015 Canadian Olympic Gear courtesy of The Bay amp Zellers Stylish ca Archived from the original on 9 April 2016 Retrieved 6 October 2015 Canadian Olympic gear made in China MPs cry foul CTV News Bell Media Television Retrieved 2 May 2008 Dheensaw Cleve 21 February 2010 Amid glitches Canadians making these Games a winner Times Colonist Victoria British Columbia First Nation alleges Olympic ripoff CBC News 7 October 2009 Retrieved 11 December 2015 Cowichan Tribes reach Olympic sweater deal CBC News 28 October 2009 Retrieved 11 December 2015 Sebastian Coe defends Vancouver Winter Olympics from critics The Guardian 18 February 2010 Retrieved 6 October 2015 Coe Sebastian 23 February 2010 Winter Olympics 2010 Vancouver so passionate to embrace Games says Seb Coe The Daily Telegraph London Archived from the original on 11 January 2022 Retrieved 6 October 2015 Putin in Canada House Good luck except in hockey CTV News Bell Media Television Archived from the original on 15 October 2015 Retrieved 6 October 2015 Canadian tuxedo no more Lululemon replaces Hudson s Bay as Canada s Olympic clothier 23 September 2021 About HBCA Hudson s Bay Company Archives Archives of Manitoba Retrieved 21 July 2020 HBCA History Hudson s Bay Company Archives Government of Manitoba Archived from the original on 25 September 2015 Retrieved 6 October 2015 HBC History Foundation Hudson s Bay Company Archived from the original on 4 October 2015 Retrieved 6 October 2015 Hudson s Bay Company Archival records United Nations Educational Scientific and Cultural Organization UNESCO Retrieved 31 January 2018 Cassell s Latin Dictionary The two different Latin words for skin or leather must be translated accordingly in English by the use of two different words of roughly the same meaning denoting an exchange Nova Vulgata Bibliorum Sacrorum Editio Libreria Editrice Vaticana 1986 Latin Vulgate Bible As translated in the King James Bible What does your motto Pro Pelle Cutem mean HBC Heritage FAQ Hudson s Bay Company Retrieved 5 October 2015 Rich E E April 1961 Manitoba Pageant Pro Pelle Cutem The Hudson s Bay Company Motto Manitoba Pageant 6 3 Retrieved 5 October 2015 Board of Directors Hudson s Bay Company Archived from the original on 20 January 2018 Retrieved 7 January 2018 Carlos Ann M Lewis Frank D September 1993 Indians the Beaver and the Bay The Economics of Depletion in the Lands of Hudson s Bay Company 1700 1763 Journal of Economic History 53 3 465 494 doi 10 1017 s0022050700013450 JSTOR 2122402 S2CID 154869132 a b c Judd Carol November 1980 Native labour and social stratification in Hudson s Bay Company s Northern Department 1770 1870 Canadian Review of Sociology and Anthropology 17 4 305 314 doi 10 1111 j 1755 618X 1980 tb00707 x Tache Alexandre Antonin amp Cameron Donald Roderick 1870 Sketch of the North west of America Montreal John Lovell p 72 Morton Arthur S Thomas Lewis G 1973 1939 A History of the Canadian West to 1870 71 2nd ed Toronto Ontario University of Toronto Press p 690 ISBN 978 0 8020 4033 6 Our History People Governors HBC Heritage Archived from the original on 27 September 2015 Retrieved 7 October 2015 Our History People Governors His Highness Prince Rupert of the Rhine HBC Heritage Archived from the original on 28 September 2015 Retrieved 7 October 2015 Rupert Prince PDF Hudson s Bay Company Archives Archived from the original PDF on 24 September 2015 Retrieved 6 October 2015 Miller John 2000 1978 James II revised 3rd ed New Haven Connecticut Yale University Press p 44 ISBN 978 0 3000 8728 4 Retrieved 7 October 2015 Our History People Governors John Lord Churchill later 1st Duke of Marlborough HBC Heritage Archived from the original on 28 September 2015 Retrieved 7 October 2015 Churchill John PDF Hudson s Bay Company Archives Archived from the original PDF on 24 September 2015 Retrieved 6 October 2015 Evance Stephen c 1655 1712 of the Black Boy Lombard Street London History of Parliament Online Retrieved 6 October 2015 Courtney William Prideaux 1899 Trumbull William 1639 1716 In Lee Sidney ed Dictionary of National Biography Vol 57 London Smith Elder amp Co pp 265 267 Lake Bibye Sir PDF Hudson s Bay Company Archives Archived from the original PDF on 4 March 2016 Retrieved 6 October 2015 Pitt Benjamin PDF Hudson s Bay Company Archives Archived from the original PDF on 23 September 2015 Retrieved 7 October 2015 Knapp Thomas PDF Hudson s Bay Company Archives Archived from the original PDF on 5 March 2016 Retrieved 7 October 2015 Lake Atwell Sir PDF Hudson s Bay Company Archives Archived from the original PDF on 5 March 2016 Retrieved 6 October 2015 Baker William Sir PDF Hudson s Bay Company Archives Archived from the original PDF on 22 August 2017 Retrieved 7 October 2015 Lake Bibye PDF Hudson s Bay Company Archives Archived from the original PDF on 22 August 2017 Retrieved 6 October 2015 Wegg Samuel PDF Hudson s Bay Company Archives Archived from the original PDF on 22 August 2017 Retrieved 6 October 2015 Lake James Winter Sir PDF Hudson s Bay Company Archives Archived from the original PDF on 4 March 2016 Retrieved 7 October 2015 Mainwaring William PDF Hudson s Bay Company Archives Archived from the original PDF on 22 August 2017 Retrieved 7 October 2015 Berens Joseph PDF Hudson s Bay Company Archives Archived from the original PDF on 5 March 2016 Retrieved 7 October 2015 Our History People Governors Sir John Henry Pelly Bart HBC Heritage Retrieved 7 October 2015 Colville Andrew PDF Hudson s Bay Company Archives Archived from the original PDF on 18 May 2015 Retrieved 6 October 2015 Shepherd John PDF Hudson s Bay Company Archives Archived from the original PDF on 4 March 2016 Retrieved 7 October 2015 Berens Henry Hulse PDF Hudson s Bay Company Archives Archived from the original PDF on 22 August 2017 Retrieved 7 October 2015 Head Edmund Walker PDF Hudson s Bay Company Archives Archived from the original PDF on 24 September 2015 Retrieved 7 October 2015 Sanders Lloyd Charles 1895 Northcote Stafford Henry In Lee Sidney ed Dictionary of National Biography Vol 41 London Smith Elder amp Co pp 194 199 Goschen George Joachim PDF Hudson s Bay Company Archives Archived from the original PDF on 23 September 2015 Retrieved 7 October 2015 Rea J E 1990 Colvile Eden In Halpenny Francess G ed Dictionary of Canadian Biography Vol XII 1891 1900 online ed University of Toronto Press Retrieved 9 October 2015 Our History People Governors Donald A Smith HBC Heritage Archived from the original on 28 September 2015 Retrieved 7 October 2015 Smith Donald Alexander PDF Hudson s Bay Company Archives Archived from the original PDF on 23 September 2015 Retrieved 7 October 2015 Skinner Thomas PDF Hudson s Bay Company Archives Archived from the original PDF on 23 September 2015 Retrieved 7 October 2015 Newman Peter C 2004 Here Be Dragons Telling Tales of People Passion and Power Toronto McClelland amp Stewart p 591 ISBN 978 0 7710 6792 1 Retrieved 9 October 2015 Our History Business Fur Trade The Rent Ceremony HBC Heritage Retrieved 6 October 2015 Dodge Ernest S 1979 1969 Knight James In Hayne David ed Dictionary of Canadian Biography Vol II 1701 1740 online ed University of Toronto Press Retrieved 7 October 2015 Our History People Associates James Knight HBC Heritage Retrieved 7 October 2015 Laughton John Knox 1892 Knight James In Lee Sidney ed Dictionary of National Biography Vol 31 London Smith Elder amp Co p 254 Hayne David ed 1979 1969 Kelsey Henry Dictionary of Canadian Biography Vol II 1701 1740 online ed University of Toronto Press Retrieved 7 October 2015 Our History People Women Thanadelthur HBC Heritage Archived from the original on 22 December 2015 Retrieved 7 October 2015 Our History People Explorers David Thompson HBC Heritage Archived from the original on 7 October 2015 Retrieved 7 October 2015 Christy Miller 1888 Douglas Thomas 1771 1820 In Stephen Leslie ed Dictionary of National Biography Vol 15 London Smith Elder amp Co pp 350 353 Our History People Women Isobel Gunn HBC Heritage Retrieved 7 October 2015 Harris Charles Alexander 1897 Simpson George In Lee Sidney ed Dictionary of National Biography Vol 52 London Smith Elder amp Co pp 269 270 Our History People Builders Sir George Simpson HBC Heritage Archived from the original on 22 December 2015 Retrieved 7 October 2015 Wells Garron 1982 John McLean Dictionary of Canadian Biography vol XI Toronto University of Toronto Martin Joseph E 2017 Titans Canada s History 97 5 47 53 ISSN 1920 9894 Rix Herbert 1896 Rae John In Lee Sidney ed Dictionary of National Biography Vol 47 London Smith Elder amp Co pp 151 153 Our History People Explorers Dr John Rae HBC Heritage Archived from the original on 9 October 2015 Retrieved 7 October 2015 Hacking Norman R Lamb W Kaye 1976 The Princess Story A Century and A Half of West Coast Shipping Vancouver Mitchell Press Ltd Watson Robert March 1928 The Anson Northup First Steamboat on the Red River The Beaver pp 162 163 The Beaver June 1925 p 121 Horner Russ 23 June 2016 HBC Supply Chain Department at N A s Oldest Firm is a Modern Day Leader Social Media for Business Performance University of Waterloo Centre for Extended Learning Archived from the original on 23 March 2018 Retrieved 22 March 2018 Bibliography EditGalbraith John S 1957 Hudson s Bay Company As an Imperial Factor 1821 1869 Berkeley and Los Angeles University of California Press Retrieved 6 October 2015 Newman Peter C 1985 Company of Adventurers Vol I Markham Ontario Viking Penguin Books of Canada ISBN 978 0 6708 0379 8 Rich Edwin Ernest 1958 The History of the Hudson s Bay Company 1670 1870 Vol I Hudson s Bay Record Society Further reading EditBryce George 1968 The Remarkable History of Hudson s Bay Company New York B Franklin Buss Helen M 2003 Undelivered Letters to Hudson s Bay Company Men on the Northwest Coast University of British Columbia Press ISBN 978 0 7748 0973 3 The Beaver Exploring Canada s History Periodical An Illustrated Canadian History Magazine Published by the HBC 1920 1994 By CNHS Since 1994 Winnipeg 1920 Cowie Isaac 1913 The Company of Adventurers a Narrative of Seven Years in the Service of the Hudson s Bay Company during 1867 1874 on the Great Buffalo Plains Toronto William Briggs Dillon Richard H 2012 1975 Siskiyou Trail Hudson s Bay Company Route to California New York McGraw Hill ISBN 978 1 6180 9063 8 Elle Andra Warner 2009 Hudson s Bay Company Adventures The Rollicking Saga of Canada s Fur Traders Heritage House ISBN 978 1 894974 68 4 Gibson James R ed 2019 Opposition on the Coast The Hudson s Bay Company American Coasters the Russian American Company and Native Traders on the Northwest Coast 1825 1846 doi 10 3138 9780772764430 ISBN 978 0 7727 6441 6 S2CID 231624945 Hearne Samuel 1795 A Journey from Prince of Wales s Fort in Hudson s Bay to the Northern Ocean London A Strahan and T Cadell Publishers 2011 reprint A Journey to the Northern Ocean The Adventures of Samuel Hearne at Google Books Laut Agnes C 1908 The Conquest of the Great Northwest New York Outing Publishing MacKay Douglas 1936 The Honourable Company A History of the Hudson s Bay Company Indianapolis Bobbs Merrill Maurice Edward Beauclerk 2006 2004 The Last of the Gentleman Adventurers Boston Houghton Mifflin Co ISBN 978 0 5477 5432 1 Murray Alexander Hunter 1848 Expedition to Build a Hudson s Bay Company Post on the Yukon 1847 48 Newman Peter C 1987 Caesars of the Wilderness Company of Adventurers Vol II Markham Ontario Viking Penguin Books of Canada ISBN 978 0 6708 0967 7 Newman Peter C 1989 Empire of the Bay An Illustrated History of the Hudson s Bay Company Markham Ontario Viking Penguin Books of Canada ISBN 978 0 6708 2969 9 Newman Peter C 1991 Merchant Princes Company of Adventurers Vol III Markham Ontario Viking Penguin Books of Canada ISBN 978 0 6708 4098 4 Newman Peter C 2002 An Illustrated History of the Hudson s Bay Company Previously published as Empire of the Bay Toronto Penguin Canada Madison Press ISBN 978 0 6708 2969 9 Newman Peter C 2005 Company of Adventurers How the Hudson s Bay Empire Determined the Destiny of a Continent Toronto Penguin Canada ISBN 978 0 1430 5147 3 Opp James 2015 Branding the Bay la Baie Corporate Identity the Hudson s Bay Company and the Burden of History in the 1960s Canadian Historical Review 96 2 223 256 doi 10 3138 chr 2675 S2CID 160967383 Reed Charles B 1914 Masters of the Wilderness Chicago Historical Society University of Chicago Press Rich Edwin Ernest 1959 The History of the Hudson s Bay Company 1670 1870 Vol II Hudson s Bay Record Society Rich Edwin Ernest 1966 Montreal and the Fur Trade Beatty Memorial Lectures reprint ed Montreal McGill Queen s University Press ISBN 978 0 7735 9431 9 Rich Edwin Ernest 1967 The Fur Trade and the Northwest to 1857 Toronto McClelland amp Stewart Simmons Deidre 2007 Keepers of the Record The History of the Hudson s Bay Company Archives Montreal McGill Queen s University Press ISBN 978 0 7735 3291 5 Tichenor Harold 2002 The Blanket An Illustrated History of the Hudson s Bay Point Blanket Toronto Quantum Books for Hudson s Bay Company ISBN 978 1 8958 9220 8 Van Kirk Sylvia 1999 1980 Many Tender Ties Women in the Fur Trade Society 1670 1870 Winnipeg Watson amp Dwyer ISBN 978 1 8962 3951 4 1983 edition Many Tender Ties Women in the Fur Trade Society 1670 1870 at Google Books Van Kirk Sylvia 1984 The Role of Native Women in the Fur Trade Society of Western Canada 1670 1830 Frontiers A Journal of Women Studies 7 3 9 13 doi 10 2307 3346234 JSTOR 3346234 Van Kirk Sylvia 1991 The Role of Native Women in the Fur Trade Society of Western Canada 1670 1830 In Strong Boag Veronica Fellman Anita Clair eds Rethinking Canada The Promise of Women s History 2nd ed Toronto Copp Clark Pitman ISBN 978 0 7730 5097 6 White Bruce M Winter 1999 The Woman who Married a Beaver Trade Patterns and Gender Roles in the Ojibwa Fur Trade Ethnohistory 46 1 109 147 JSTOR 483430 Willson Beckles 1900 The Great Company 1667 1871 A History of the Honourable Company of Merchants adventurers Trading into Hudson s Bay London Smith Elder and Company Also The Great Company 1667 1871 Being a History of the Honourable Company of Merchants Adventurers Trading into Hudson s Bay at Google BooksExternal links Edit Wikimedia Commons has media related to Hudson s Bay Company Wikisource has the text of the Encyclopaedia Britannica 9th ed article Hudson s Bay Company Wikisource has the text of the 1911 Encyclopaedia Britannica article Hudson s Bay Company Official website HBC Heritage website Hudson s Bay Company Archives held by the Government of Manitoba Works by Hudson s Bay Company at Project Gutenberg Works by or about Hudson s Bay Company at Internet Archive John Work Papers 1823 1862 0 42 cubic feet 1 box At the Labor Archives of Washington University of Washington Libraries Special Collections Contains records from Work s service as an officer of the Hudson s Bay Company at various company settlements including Fort Vancouver Fort Colvile Spokane House Fort Simpson Fort Nisqually and Fort Victoria Hudson s Bay Company papers at the University of Oregon The Other Side of the Ledger An Indian View of the Hudson s Bay Company The Canadian Encyclopedia The Hudson s Bay Company Archived 16 October 2013 at the Wayback Machine H Bullock Webster fonds An artistic rendition of the Canadian fur trade from the UBC Library Digital Collections depicting social life activities and customs in Hudson s Bay Company posts in the 19th Century Elizabeth F Washburn Journal on her experiences on board the Hudson s Bay Company s supply ship Rupertsland at Dartmouth College Library Documents and clippings about Hudson s Bay Company in the 20th Century Press Archives of the ZBW Retrieved from https en wikipedia org w index php title Hudson 27s Bay Company amp oldid 1144929586, wikipedia, wiki, book, books, library,

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