'The loading dock was full': Brands pull products from Hudson's Bay amid liquidation [BNN Bloomberg (Canada)]
Ralph Lauren Corporation (RL)
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Source: BNN Bloomberg
The sales are expected to gut most of the retailer's inventory by June 15 by offering discounts on everything from apparel to home goods and cosmetics. Hudson's Bay did not immediately respond to a request for comment on brands that took back merchandise from its 80 Hudson's Bay, 13 Saks Off Fifth and three Saks Fifth Avenue stores, which are almost all being liquidated. However, lawyers for the retailer said last week in court that some brands were due to participate in the liquidation but others were fleeing. The selloff will see participating companies, who are about to have one less place to sell their wares, take a hit on how much they make on merchandise sold through Hudson's Bay. Seeing heavily discounted products may even cheapen the consumer perception of their brand. These factors are why Elisha Ballantyne, a Toronto-based retail consultant who has worked for Target, Walmart and Zellers, figured brands scrambled to take back their merchandise. “If your agreement (
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