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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.
Apr 2, 2009 · The Hudson’s Bay Company (HBC), chartered 2 May 1670, is the oldest incorporated joint-stock merchandising company in the English -speaking world. HBC was a fur trading business for most of its history, a past that is entwined with the colonization of British North America and the development of Canada.
May 2, 2020 · But it’s a story that predates Canada, the making of which is only one small telling. In other words, the history of the Hudson’s Bay Company is a global story for our global era. In October 1666, King Charles II of England granted an audience to two men who had travelled a long way to see him.
- Melissa Gismondi
Jan 2, 2024 · The story of the Hudson’s Bay Company (HBC) traces back to the exploits of French explorers and fur traders, Pierre-Esprit Radisson and Médard Chouart des Groseilliers. Spurred on by rumors of a “frozen sea” to the north – rich in furs – the pair proposed an expedition to what is now recognized as Hudson Bay to the authorities of New ...
- The Early Years
- Competition with North West Company
- Gold Rush Difficulties
- Early 20Th-Century Diversification, Including Retail
- Restructuring
- Wal-Mart Challenge
- Falling Into American Hands
- Principal Competitors
- Further Reading
The development of the company was tied to the growth of Canada and settlement of its western region. Those who were important to the development of the company also were important politically and historically to the economic and political growth of the New World. The list of well-known people associated with the company is long and includes Peter ...
One of the Hudson's Bay Company's fiercest early competitors was North West Company, established in 1779 by a Scottish-Canadian group of nine traders that moved into the Canadian interior around 1780 and claimed to be the rightful successors to the early French traders who had opened up the land. North West Company had two types of shareholders: th...
The next phase of the company's growth was shaped by the 1849 gold fever that caused a great rush westward; almost 40,000 '49ers came west that year. Hudson's Bay Company suffered as a result. Demand made the cost of basic goods skyrocket. Lumber rose from $16 to $65 per thousand feet; unskilled labor received $5 to $10 a day; sailors were paid $15...
The company began selling goods to the average Canadian in 1881, when it published its first mail-order catalog. Demand for general merchandise increased, and shops were established on the outskirts of the forts. In 1907 Hudson's Bay Company created its wholesale department to sell liquor, tobacco, coffee, tea, confectionery products, and blankets....
In the 1970s and into the 1980s, sales and oil prices slipped, while debt from acquisitions piled up. By 1985 the company owed CAD 2.5 billion and with feeble operating profits wiped out by CAD 250 million in interest payments, the company suffered its fourth consecutive yearly loss. Having sold Hudson's Bay Oil and Gas to Dome Petroleum, Ltd. in 1...
In 1992 Thomson reduced his interest in Hudson's Bay Company to 25 percent through a secondary stock offering; five years later this stake was reduced further through another secondary offering to zero. Meantime, in 1993, Hudson's Bay Company acquired Linmark Westman International Limited, a buying firm in the Far East, and also purchased 25 former...
Heller's initial moves focused on revitalizing the Bay by moving the department store upmarket, installing new floor layouts, tailoring the merchandise mix at each store based on its community of location, offering more exclusive product lines, and giving salespeople more training. The new leader also cut back on the number of sales events. Other i...
Wal-Mart Canada Corp.; Sears Canada Inc.; Canadian Tire Corporation Limited; Costco Wholesale Canada Ltd.
Allaby, Ian, "The Bay Boys Battle Back," Canadian Business,May 1987, pp. 56 +. Austen, Ian, "Reinventing a 335-Year Tradition," New York Times,June 14, 2005, p. C6. Burns, John F., "Fur Industry Shrinking with No End in Sight," New York Times,February 26, 1991, p. D1. Chidley, Joe, and Sean Silcoff, "The Job from Hell," Canadian Business, May 28, 1...
Jun 10, 2022 · It started as a fur trading company. Much later, it got involved in retail. It owns 239 department stores in Canada and the United States. These stores include Saks Fifth Avenue and Saks OFF 5th. This article is a plain-language summary of the Hudson’s Bay Company.
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The English financial backers of explorers Médard Chouart Des Groseilliers and Pierre-Esprit Radisson formed a corporation that received its charter on 2 May 1670 and which has been known since then as the Hudson’s Bay Company (HBC).
