EP 231: Hudson’s Bay's Downfall: Why Richard Baker Failed

We'd love to have your feedback and ideas for future episodes of Retail Unwrapped. Just text us!Guest: Mark A. Cohen Former Director of Retail Studies at the Columbia Business School, and Former CEO Sears Canada.Hudson’s Bay, once Canada's proud retail institution, has descended into Chapter 11 restructuring. And the blunt truth is it’s not because of recent trade tensions as the company proclaimed, but rather from years of financial neglect, unpredictable customer experiences, and questionable strategic moves. The department store's inconsistent merchandise assortments across different locations undermined The Bay’s identity, leaving customers confused about what the retailer actually stood for. Join Shelley and retail veteran Mark Cohen as they discuss how CEO Richard Baker's real estate-focused leadership and lack of retail expertise have led to catastrophic outcomes, reflecting the danger of prioritizing deal-making over operational excellence. His ineptitude doesn’t stop at Hudson’s Bay. Saks Global is at risk of long-term survival. It’s the perfect storm for Saks: The large luxe brands are not going to be bullied by Saks 90-day payment terms and Baker's financial engineering will give market share to Nordstrom and Bloomingdale’s. For more strategic insights and compelling content, visit TheRobinReport.com, where you can read, watch, and listen to content from Robin Lewis and other retail industry experts, and be sure to follow us on LinkedIn and Twitter.