OTCPK:HBAYF - Post by User
Comment by
keepgoing67on Dec 14, 2017 1:34am
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Post# 27153572
RE:HBC cut to market perform at BMO
RE:HBC cut to market perform at BMOThe spin-off of the REIT will not happen simply because HBC's poor operational performance. They will continue to sell of some assets to fund operations which is NOT a good idea just look at Sears/Sears Canada. HBC needs to close their entire European operations. The idea from the beginning was horrible because no one cares about the Canadian brand neither do these countries care for another department store. Its almost like HBC is so ignorant to believe that online competition from the likes of Amazon is not a real threat. There was an interesting article that mentioned if HBC wants to survive they should model their business to UK's Selfridge. I totally agree with that concept, but HBC needs significant amount of capital injection to terminate early leases and they need time away from the public (go private). Unfortunately, HBC has a financial/banker as a CEO and not a retail expert thus Baker will never part ways of his most prized asset - real estate.