Hudson's Bay Co. HBAYF

At the call this AM drugstorediva had very little about SAKS

[nolipstick]

who are knockin the cover off the ball, just how everything else is a performance mess...Hardly obvious sweetheart what your instructions are Baker. Accentuate the negative....
SAKS flagship was valued at $5 billion USF in independent appraisal 6 years ago....theres $30/ share from one property alone....

[seatleslim]

Flagship was appraised at $3.7B USD in 2014 vs $1.25B in mortgage debt.  Net equity is that building is $2.5B USD or over $13/share CAD. Other than the flagship loan, the compay doesn't have much debt other than ABL that ramps into holiday to fund inventory.  Only other debt is non recourse mortgage debt in Simon and RioCan JV's.   Standing alone and seperate form

[nolipstick]

Please see summary of partial litigation file wherein appraisal value was apparently withheld from SAKS shareholders at time of acquisition 6 years ago by Baker...refer to $5 Billion.... https://fhnylaw.com/omission-material-information-sufficient-invalidate-class-action-stipulation-settlement-involving-merger-saks-incorporated-hudsons-bay-company/

[seatleslim]

"while an appraisal revealed that the Flagship Store itself was worth $4 billion." I have no idea where you are getting $5B.  The appraisal done at the time of the $1.25B mortgage was $3.7B.  I can't expain the difference between $4B and 3.7B, the difference is a little over $1/share, and there is a mortgage on the property. Net equity in that property is somewhere in the

[nolipstick]

Don't know but moot point right now....the $5 BB is in that link. Sure woth more now than 6 years ago in any event. You give your figure to your class action lawyer and I will to mine....LOL