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HUDSON’S BAY AND LA PLACE ENTER INTO PARTNERSHIP IN THE NETHERLANDS

AMSTERDAM, May 8, 2017 – Hudson’s Bay and La Place today announced that La Place will be the partner for the Hudson’s Bay restaurants in the Netherlands. With a distinguished reputation of natural, homemade and delicious food, La Place will operate restaurants within the Hudson’s Bay department stores, starting with nine locations opening in the third quarter of this year.

 

Jacco van der Steen, Director Marketing and Buying at Hudson’s Bay in the Netherlands:

“Hudson’s Bay in the Netherlands embodies the department store of the future—unique and surprising—catering to the Dutch market. With La Place we elevate the experience beyond a shopping destination, offering our customers natural, homemade and delicious food every day.”

Bart van den Nieuwenhof, Managing Director at La Place:

 

“We are very pleased that, together with our new partner Hudson’s Bay, we return to familiar area; the many inner cities of the Netherlands. Our loyal guests had to miss us in some places, but hopefully will find us again soon. Opening these new restaurants underlines the growth we have in mind in the Netherlands. With our renewed restaurants, with new world kitchens, a new developed assortment and improved seating, we are stronger than ever before.”

 

The La Place restaurants will be featured in all Hudson’s Bay stores, except Amsterdam. The Hudson’s Bay store in Amsterdam feature a different food experience, to be announced soon.

 

About Hudson’s Bay

Hudson’s Bay Company, incorporated in 1670, is North America’s oldest company. Hudson’s Bay has grown to become Canada’s most prominent department store, today operating 90 full-line locations and thebay.com. For the first time since the banner’s inception, Hudson’s Bay will open outside of Canada with 10 new stores in the Netherlands in 2017, and an online shopping destination at hudsonsbay.nl. This expansion will introduce a new and exciting shopping experience in the Netherlands, catering to the Dutch market. Hudson’s Bay has established a reputation for quality, service, and style by offering well-edited assortments of exclusive and popular fashion, beauty, home and accessory designers and brands, as well as exclusive food concepts.  It is part of the Hudson’s Bay Company brand portfolio.​

 

About La Place

For almost 30 years, La Place is a successful food service formula, with 100% natural, daily and home-made products. The catering chain combines the best of the market with a self-service restaurant. Since its foundation in 1987, La Place is focusing on the trend of healthy food. Professionals exclusively work with fresh and honest food, and where possible organic raw materials. Own and unique recipes are being prepared in sight of the customer. In addition to more than 50 locations in the Netherlands, La Place has several locations in Germany, Indonesia and the United States. Beginning 2016, the food service formula was taken over by Jumbo Groep Holding BV.

 

About Hudson’s Bay Company

Hudson’s Bay Company is one of the fastest-growing department store retailers in the world, based on its successful formula of growing through acquisitions, driving the performance of high quality stores and their all-channel offerings and unlocking the value of real estate holdings. Founded in 1670, HBC is the oldest company in North America. HBC’s portfolio today includes ten banners, in formats ranging from luxury to premium department stores to off price fashion shopping destinations, with more than 480 stores and 66,000 employees around the world. In North America, HBC’s leading banners include Hudson’s Bay, Lord & Taylor, Saks Fifth Avenue, Gilt, and Saks OFF 5TH, along with Home Outfitters. In Europe, its banners include GALERIA Kaufhof, the largest department store group in Germany, Belgium’s only department store group Galeria INNO, as well as Sportarena. HBC has significant investments in real estate joint ventures. It has partnered with Simon Property Group Inc. in the HBS Global Properties Joint Venture, which owns properties in the United States and Germany. In Canada, it has partnered with RioCan Real Estate Investment Trust in the RioCan-HBC Joint Venture.

 

Forward-Looking Statements

Certain statements made in this news release, including, but not limited to expectations with respect to Hudson’s Bay restaurants in the Netherlands, constitute forward-looking statements within the meaning of applicable securities laws. Often but not always, forward-looking statements can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “believe”, “estimate”, “plan”, “could”, “should”, “would”, “outlook”, “forecast”, “anticipate”, “foresee”, “continue” or the negative of these terms or variations of them or similar terminology.

 

Although HBC believes that the forward-looking statements in this news release are based on information and assumptions that are current, reasonable and complete, these statements are by their nature subject to a number of factors and risks that could cause actual results to differ materially from management’s expectations and plans as set forth in such forward-looking statements for a variety of reasons. Some of the factors and risks – many of which are beyond HBC’s control and the effects of which can be difficult to predict – include, among others – the risk that the anticipated activities and timing for the Hudson’s Bay restaurants in the Netherlands cannot be realized, credit, market, currency, operational, liquidity and funding risks generally, including changes in economic and geopolitical conditions, interest rates or tax rates, and risks and uncertainties relating to information management, technology, supply chain, product safety, changes in law, competition, seasonality, commodity price and business. HBC cautions that the foregoing list of important factors and assumptions is not exhaustive and other factors could also adversely affect its results. For more information on the risks, uncertainties and assumptions that could cause HBC’s actual results to differ from current expectations, please refer to the “Risk Factors” section of HBC’s Annual Information Form dated April 28, 2017, as well as HBC’s other public filings, available at www.sedar.com and at www.hbc.com.

 

The forward-looking statements contained in this news release describe HBC’s expectations at the date of this news release and, accordingly, are subject to change after such date. Except as may be required by applicable Canadian securities laws, HBC does not undertake any obligation to update or revise any forward-looking statements contained in this news release, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.

 

MEDIA CONTACTS:

 

Hudson’s Bay:

Citigate First Financial

Marieke Heringa, +31-6-11327533 marieke.heringa@citigateff.nl

 

La Place:

Newslab

laplace@newslab.nl

+ 31 6 82805984