Hudson's Bay Company Taps Douglas Scovanner for Interim Finance Lead


TORONTO & NEW YORK---Hudson's Bay Company ("HBC" or the "Company") (TSX: HBC) has appointed Douglas Scovanner as Executive Vice President of Finance and Accounting, on an interim basis. This appointment gives Scovanner day-to-day responsibilities for the company's Financial Planning, Asset Protection, and Accounting functions. Prior to this appointment, Scovanner spent nearly two decades at Target Corporation, most recently as Executive Vice President and Chief Financial Officer.

HBC's Governor and CEO Richard Baker noted, "Doug's broad background in finance, where he led a 3,000 person organization, will maintain the stability we have had within our finance organization." Baker went on to comment, "Doug has been working with our business, in an advisory capacity, for the last several months, and has familiarity with our business, allowing for a smooth transition."

About Hudson's Bay Company

Hudson's Bay Company, founded in 1670, is North America's longest continually operated company. Today, HBC offers customers an unparalleled range of retailing categories and shopping experiences internationally. In Canada, HBC operates Hudson's Bay, Canada's largest department store with 90 full-line locations and one outlet store as well as, unsurpassed in its fashion, beauty, home and accessory designers and brands. HBC also operates Home Outfitters, Canada's largest home specialty superstore with 69 locations across the country.

In the United States, HBC operates Saks Fifth Avenue, one of the world's pre-eminent specialty retailers, renowned for its superlative designer collections and first-rate fashion expertise. Saks Fifth Avenue comprises 41 full-line stores in 22 states, five international licensed stores,, 72 Saks Fifth Avenue OFF 5TH stores and HBC also operates Lord & Taylor, a leading department store chain with 49 full-line store locations throughout the northeastern United States, in two major cities in the Midwest and in Boca Raton, Florida, four Lord & Taylor outlet locations and Hudson's Bay Company banners provide stylish, quality merchandise with a dedicated focus on service excellence. Hudson's Bay Company trades on the Toronto Stock Exchange under the symbol "HBC".

Hudson's Bay Company
Lucas Evans, 416-861-4444
Senior Vice President, Treasury & Investor Relations
[email protected]
Stephanie Thornbury, 416-436-8086
Vice President, HBC Communications
[email protected]