Do You Want to See Macy's Products in Mississauga?
In the past couple of years, we've heard our fair share of bad news about Canadian retailers closing their doors for good.
But while a few well-known national chains have folded—Danier, Smart Set, Jacob, etc.—a few others have grown and it looks like a Canadian retail staple is enjoying growth and eyeing a very big American department chain.
According to a recent Canadian Press article, Hudson's Bay Company is reportedly moving in on Macy's, a popular American retailer that Canadians can only enjoy when shopping south of the border.
According to the CP, HBC declined to comment on the matter after a Wall Street Journal report. The WSJ chatted with two anonymous sources who said the two companies were in preliminary talks for a takeover.
While both HBC and Macy's opted not to comment on the rumour, a retail analyst told The CP that "where there's smoke, there's a fire" and that it's "likely that HBC is after Macy's extensive real estate."
While it's much too early to speculate on what a potential takeover would mean for the retail landscape in Canada, it's fun to imagine a world where Macy products and lines are available closer to home.
What do you think, Mississauga? Does this news sound exciting to you?