Hudson’s Bay Co. (HBC) announced Thursday that that it will close down its Home Outfitters business in Canada.
The company also indicated it plans to conduct at “fleet review” of its retail chain Saks Off 5th, which includes 133 stores located in the U.S. and Canada. HBC estimates it will close up to 20 U.S. locations.
The company says the actions announced today are part of the HBC’s strategic plan to reduce costs, simplify the business and improve overall profitability.
Home Outfitters is expected to close in 2019. The company did not provide details on job losses.