KAYAK, the world’s leading travel search engine, and Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, have announced the expansion of their exclusive partnership into Canada.
This builds on the companies’ successful collaboration in the U.S., which has empowered consumers to plan and pay over time for their travels since January 2023, according to a news release.
By selecting Affirm at checkout on ca.KAYAK.com, approved KAYAK travellers in Canada can split the total cost of flights, accommodations, and car rentals/sharing into monthly payments. From there, consumers go through a quick, real-time eligibility check. If approved, they can choose the customized payment plan that best suits their needs and never pay any late or hidden fees, it said.
Wayne Pommen
“Consumers are increasingly turning to Affirm when booking their flights, hotels, rides, and more as flexible payment options remain a top priority for travellers across Canada,” said Wayne Pommen, Chief Revenue Officer of Affirm. “This expansion with KAYAK is a natural next step for our long-standing partnership as we look to offer even more travellers peace of mind when paying for their next trip using Affirm.”
Paul Jacobs
“Our partnership with Affirm opens up possibilities for travellers who are looking for more flexibility in their payment options. With international flight prices averaging $1,270, travellers can plan and pay for those bucket list trips over time, without any hidden fees,” said Paul Jacobs, GM and SVP of KAYAK North America.
Expanding with KAYAK into Canada further builds on Affirm’s rapid growth worldwide, with over 350,000 merchants offering it at checkout, including partnerships with Booking Holdings brands Agoda, Booking.com, and Priceline. Leading Canadian retailers, including Amazon, Apple, Samsung, Brown’s Shoes, CheapOair, and more offer Affirm’s payment solutions to their customers, said the press release.
WINNERS and HomeSense, Canada’s top off-price retailers, are set to open a new combo store at Skyview Power Centre in Edmonton on Monday, June 2 at 9 a.m.
Previously a standalone WINNERS store, the new combo store will be located at 13546 – 137 Avenue N.W., span more than 43,000 square feet and offer a never ending assortment of brand-name fashion and stylish home décor at exceptional savings.
Parul Bharadia
“We’re excited to open a combo store in Edmonton and look forward to welcoming shoppers to our newest renovated location,” said Parul Bharadia, HomeSense. “Whether you’re updating your closet, redecorating your space, stocking up on beauty staples, or just browsing, this store has something for everyone at incredible prices.”
With the opening of the Skyview store, Edmonton is now home to 15 WINNERS and eight HomeSense locations. Regular store hours will be 9 a.m. to 9 p.m., seven days a week.
“Designed with convenience in mind, the store layout makes it easy for shoppers to explore and enjoy a seamless experience from start to finish,” said the company.
With more than 160 HomeSense stores and over 300 WINNERS locations across Canada, both brands leverage their significant buying power and strong vendor relationships to offer high-quality, brand-name merchandise at unbeatable prices. With fresh arrivals daily, customers can always discover something new, ensuring that no two shopping experiences at WINNERS and HomeSense are ever the same, said the company.
The TJX Companies, Inc., a Fortune 100 company, is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide.
“Our mission is to deliver great value to customers every day. We do this by offering a rapidly changing assortment of quality, fashionable, brand name, and designer merchandise at prices generally 20 per cent to 60 per cent below full-price retailers’ regular prices on comparable merchandise. We operate over 4,900 stores across nine countries, including TJ Maxx, Marshalls, HomeGoods, Homesense, and Sierra, in the U.S.; Winners, HomeSense, and Marshalls in Canada; TK Maxx and Homesense in Europe, and TK Maxx in Australia. We also operate e-commerce sites for TJ Maxx, Marshalls, and Sierra in the U.S. and three sites for TK Maxx in Europe. Our value mission extends to our corporate responsibility efforts, which are focused on supporting our associates, giving back in the communities we serve, the environment, and operating ethically,” said the company.
“Fiscal 2024 proved to be a positive turnaround year for DAVIDsTEA, marked by incremental sales growth, gross profit improvement and positive cash flow from operations,” said Sarah Segal, Chief Executive Officer and Chief Brand Officer, DAVIDsTEA. “These encouraging results reflect the disciplined execution of our omnichannel growth strategy by bringing our brand closer to consumers through the opening of two new retail stores and its spillover effect on wholesale and e-commerce sales. These results also confirm that our premium specialty teas remain a comforting purchase despite an unpredictable economic landscape.
Sarah Segal
“Demand for healthy tea and matcha products continues to expand globally. With a constant focus on being responsive to our customers, our results validate that moving fulfillment services in-house more than a year ago and transitioning to a more agile, cost-effective IT platform in recent months will positively affect the Company’s operations for years to come. We are pleased with the progress across our omnichannel business towards profitability, stabilizing the business and preparing for the next phase of growth.
“In the fourth quarter, brick-and-mortar revenues were stable year-over-year despite one less week of sales than the fourth quarter of 2023. For their part, wholesale and e-commerce revenues slightly declined mainly due to the shorter selling season and a strike at Canada Post, respectively. The highlight of the quarter was unquestionably our return to profitability with net income of $2.5 million. We are proud of reaching this latest milestone and are determined to drive profitable growth in 2025 and beyond.
“Looking ahead to the next three-year cycle, we intend to generate a sales compound annual growth rate between 10 and 12% on the strength of growing our number of Canadian retail stores, accelerating wholesale expansion in the U.S., and enhancing our online presence. We also plan to raise our gross profit margin to 48-50% on a sustained basis by taking advantage of our in-house fulfillment capabilities, focusing on innovation and differentiated product pipeline, and better absorbing our fixed costs on higher sales volume. Finally, we expect to leverage annual cost savings of $4 million from the end of the third quarter of 2024 through the shift to our newly deployed IT platform and tight control on discretionary spending. As a result, we believe that we can achieve an adjusted EBITDA margin in the low double digits by the end of fiscal 2027 from mid-single digits in 2024.”
DAVIDsTEA offers a specialty branded selection of high-quality proprietary loose-leaf teas, pre-packaged teas, tea sachets, tea-related accessories and gifts through its e-commerce platform at www.davidstea.com and the Amazon Marketplace, its wholesale customers which include over 4,000 grocery stores and pharmacies, over 1,500 convenience stores in Canada and over 900 grocery stores in the United States, as well as 20 company-owned stores across Canada. It offers primarily proprietary tea blends that are exclusive to the company, as well as traditional single-origin teas and herbs. The company is headquartered in Montréal.
“Key building blocks are in place to bolster sales growth; our brick-and-mortar, wholesale and e-commerce businesses are supported by strong unit economics; and we have added financial flexibility with a cash position of $16.2 million at the end of the fiscal year.
“The threat of U.S. tariffs remains a concern particularly the related impact on the Canadian economy; however, due to many years of diversifying our supply chains, we have demonstrated resilience in mitigating the direct impact to our business. It should also be noted that DAVIDsTEA has limited exposure to sales south of the border, which accounted for 14.3% of total revenue in 2024.”
Fiscal 2024 ➢ Sales reached $61.8 million, up 2% year-over-year ➢ Net loss narrows to $3.2 million, a $10.6 million improvement ➢ Adjusted EBITDA turned positive at $3.9 million, up $9.3 million ➢ Free cash flow of $7.3 million with year cash of $16.2
Q4 2024 ➢ Sales of $23.2 million ➢ Net income of $2.5 million, up $6.4 million, despite lower revenue ➢ Adjusted EBITDA of $4.0 million, a $3.5 million improvement
For the first quarter of 2025, compared to the first quarter of 2024:
Gross Merchandise Sales increased to $8.0M vs. $7.4M, an increase of 7%
Revenue increased to $5.0M vs. $4.7M, an increase of 8%
Gross profit of $1.94M vs. $1.96M, a decrease of 1%
Adjusted EBITDA improved to positive $32K vs. loss of $191K
Net loss from continuing operations improved to $20K vs. $82K
Cash on hand at March 31, 2025 was $2.7M
Ghassan Halazon
“Q1 2025 was our fourth consecutive quarter of organic revenue growth. Notably, we delivered positive Adjusted EBITDA for the first time under our EMERGE 2.0 strategy, reflecting our improved topline and our streamlined overhead expenses in place, now that the previously announced cost reductions have taken full effect,” said Ghassan Halazon, Founder and CEO, EMERGE.
“Our business model is uniquely positioned to thrive in the current macro backdrop. truLOCAL is a benefactor of the “Support LOCAL” movement sweeping the country, while our discount golf business continues to strengthen in this weakening economy as customers seek out more deals. We are also pleased to share that Q2-to-date, our first quarter including Tee 2 Green results, is exceeding management’s expectations on both revenue growth and profitability overall. Special thanks to our team, Board, and trusted partners on yet another quarter of disciplined execution and sustained operational excellence.”
EMERGE is a premium, Canadian e-commerce and retail brand portfolio. Its subscription, marketplace, and retail businesses provide its members with access to offerings across its grocery and golf verticals. truLOCAL is its flagship Canadian meat and seafood subscription service, connecting local farmers with a health-conscious audience. Its golf vertical includes its discounted tee-times/ experiences brand, UnderPar, and its discounted golf apparel and equipment brands, JustGolfStuff and Tee 2 Green.
On January 15, EMERGE completed the asset sale of Carnivore Club for a total purchase price of $500,000. Carnivore Club was a legacy, non-core asset.
On April 4, EMERGE closed the acquisition of all the issued and outstanding shares of Tee 2 Green Ltd. It said T2G is a profitable, discount golf apparel and equipment business with a 38-year track record of operations, focused on the Canadian market. T2G achieved revenue of $6.4M, Adjusted EBITDA of $1M and net income of $700K in 2024 (unaudited).
“EMERGE utilized the cash proceeds from the Carnivore Club transaction, as well as the previously announced sale of the premium, dormant SHOP domains to Shopify towards closing the T2G acquisition,” it said.
“For Q2 2025, EMERGE management expects to achieve double-digit revenue growth, and strong positive Adjusted EBITDA positive,” said the company. “truLOCAL, our Canadian meat and seafood subscription brand, continues to be a benefactor of the “Buy Canadian” sentiment. Our discounted golf experiences and products vertical is continuing to gain from the weakening macro climate given the recession-friendly nature of the business model, with golf season now in full swing.
“Q2 is the first time EMERGE will include T2G’s results. The addition of T2G, starting Q2 2025, is expected to substantially enhance the Company’s revenue, profitability and cash flow profile, and in the process, strengthen its balance sheet, and potentially improve its cost of capital over time.”
The following financial information has been summarized from the Company’s unaudited condensed consolidated interim financial statements (excluding GMS and Adjusted EBITDA):
Three months ended March 31,
2025$
2024$
Gross Merchandise Sales1
8,008,570
7,396,134
Total revenue
5,028,958
4,654,024
Adjusted EBITDA1
32,299
(191,851)
Net loss from continuing operations
(21,609)
(82,088)
Net income
403,120
485,808
Basic and diluted loss per share from continuing operations and total
(0.00002)
(0.00066)
Total assets
6,585,339
7,995,766
Long-term liabilities
1,104,733
8,235,160
1 Non-GAAP Financial Measure. Refer to section “Non-GAAP Financial Measures” for additional information.
Eataly at the Distillery District in Toronto, May 2025. Photo: Eataly
Italian food marketplace Eataly has opened a seasonal pop-up in Toronto’s Distillery District, adding a new destination for coffee, sweets, and grocery items in one of the city’s most visited historic neighbourhoods. The temporary concept follows a successful activation during the Distillery Winter Village in 2024 and will operate daily from 9 a.m. to 9 p.m. throughout the warmer months.
The Eataly pop-up is located at 21 Trinity Street, in the lower level of the Gotstyle store as a sub-lease. It brings with it a curated menu of coffee, pastries, sandwiches, and gelato, alongside a retail assortment of imported Italian grocery products. Outdoor seating has been added to accommodate patio season and increase foot traffic from tourists and locals alike.
Coffee, Cannoli and Takeaway
At the Distillery location, visitors can order Illy coffee beverages, grab a traditional farcita sandwich, or indulge in Italian desserts such as cannoli and tiramisù. A range of gelato flavours is also available, as well as pre-packaged snacks and takeaway meals for those on the go.
The retail component of the space includes giftable sweets, artisanal pasta, olive oil, and other pantry staples from Eataly’s signature line. The format mirrors the brand’s pop-up activations seen in other global markets, designed to complement its larger flagship locations.
Eataly at the Distillery District in Toronto, May 2025. Photo: Eataly
Temporary Format, Long-Term Strategy
The launch of the Distillery District pop-up is part of a broader strategy by Eataly to grow its footprint in Toronto, which has become one of the most active markets for the Italian food and beverage brand in the world. The company now operates three permanent stores in the city and is preparing to open a fourth in the fall.
Eataly made its Canadian debut in November 2019 with a 50,000-square-foot flagship location at the Manulife Centre on Bloor Street. Spanning three levels, the store includes multiple restaurants, bars, and a cooking school, in addition to a full Italian grocery market.
A second location opened at CF Sherway Gardens in November 2023, offering a 25,000-square-foot format geared toward shoppers in Toronto’s west end. The third store opened May 30, 2024, at CF Shops at Don Mills, with a 10,000-square-foot layout, a 180-seat restaurant, and quick-service counters. A fourth store is slated to open at CF Toronto Eaton Centre in fall 2025, taking over a portion of the former Nordstrom space.
Once the Eaton Centre store opens, Toronto will become the city with the highest number of Eataly locations in North America, tied with Tokyo globally.
Eataly at the Distillery District in Toronto, May 2025. Photo: Eataly
Brand Overview
Founded by Oscar Farinetti in 2007, Eataly operates more than 50 locations in 15 countries and employs over 5,000 people globally. The brand combines dining, grocery retail, and culinary education into a single experience that emphasizes premium Italian ingredients and the concept of “Made in Italy.”
In 2023, European investment firm Investindustrial acquired a 52% majority stake in the business, fuelling further international expansion. The brand has since opened new locations in markets including the Middle East and Europe, while reinforcing its presence in North America.
Why the Distillery District?
Toronto’s Distillery Historic District is a natural fit for Eataly’s pop-up concept. Once the home of the Gooderham and Worts Distillery—established in 1832—the site was revitalized in the early 2000s and is now one of Toronto’s most popular pedestrian-only cultural hubs.
The area is home to more than 40 retailers, many of which are Canadian-owned, along with a range of galleries, cafes, and performance venues. With cobblestone streets, historic architecture, and a growing residential population in the surrounding area, the district attracts both tourists and locals year-round.
Recent years have seen the addition of new residential towers and commercial tenants, strengthening the area’s positioning as a mixed-use destination. Seasonal activations such as the Winter Village and summer art festivals help sustain visitor interest throughout the year.
Eataly’s arrival adds a new layer to the neighbourhood’s retail mix, bringing an internationally recognized culinary brand into a space best known for independent boutiques and arts-focused enterprises.
Eataly at the Distillery District in Toronto, May 2025. Photo: Eataly
Strategic Positioning
While Eataly’s Distillery District location is temporary, it is seen as a strategic move by the company to maintain brand visibility between major store launches. The pop-up format also allows Eataly to test new locations, engage directly with customers in pedestrian zones, and build awareness among new segments of the city ahead of its CF Toronto Eaton Centre opening.
The compact size and fast-casual menu position the space as a convenient stop for tourists exploring the district, as well as office workers and nearby residents. With Toronto’s summer tourism season underway, the timing of the launch is expected to drive meaningful traffic to the brand.
Hudson's Bay logistics facility at 100 Metropolitan Road in Toronto. Photo: Apple Maps
As the Hudson’s Bay Company (HBC) winds down operations under court-supervised restructuring, Unifor—the largest private-sector union in Canada—is intensifying calls for justice and reform. On May 27, the union held coordinated rallies in Toronto and Windsor, demanding that HBC prioritize its workforce and that the federal government overhaul insolvency legislation to better protect workers caught in corporate collapses.
The rallies, led by Unifor Locals 40 and 240, come as hundreds of unionized HBC employees face the termination of their employment without full severance, vacation pay, or benefits. Nearly 600 workers across multiple locations—including stores in Windsor, Kitchener, CF Sherway Gardens in Toronto, and a Scarborough-based e-commerce warehouse—are directly impacted by HBC’s ongoing liquidation process.
Rallies Call Out Executive Bonuses Amid Worker Losses
At the heart of the protests is growing outrage over the disparity between executive compensation and frontline worker treatment.
“Unifor is calling on HBC to honour its legal responsibilities to workers and urges federal legislators to overhaul Canada’s insolvency laws to put workers first,” said Samia Hashi, Unifor’s Ontario Regional Director, during the rally in Toronto.
Workers claim they are owed tens of thousands of dollars in severance and benefits. Many have decades of service with the iconic retailer and are now facing unemployment with no guarantee of full compensation. Under current law, workers must wait for official termination before applying to the federal Wage Earner Protection Program (WEPP), which caps payments at $8,844.
“The WEPP cap leaves workers with significant financial loss while HBC executives and secured creditors like banks and landlords walk away with payouts,” said Dwayne Gunness, President of Unifor Local 40.
Court filings revealed that HBC executives may receive up to $3 million in bonuses as part of its restructuring—further inflaming tensions.
Hudson’s Bay store at Devonshire Mall in Windsor, ON. Photo: TripAdvisor
Union Seeks Comprehensive Reform to Insolvency Laws
Beyond holding Hudson’s Bay accountable, Unifor is seizing the moment to push for broader legislative change. Under Canada’s current insolvency framework, employees are categorized as “unsecured creditors,” placing them behind banks, landlords, and other investors when it comes to recovering compensation.
“The laws must be changed to make workers priority one,” said Gunness.
Unifor is urging Parliament to enact a package of reforms, including:
Raising the WEPP cap.
Expanding eligibility and access to WEPP benefits.
Strengthening “super-priority” status for worker claims during insolvency.
Holding corporate directors personally liable for unpaid compensation.
Establishing trust-held or federally guaranteed compensation funds.
“This is about setting a precedent for how workers are treated in corporate failures moving forward,” said Jodi Nesbitt, President of Unifor Local 240. “What HBC is doing to its workforce should be outlawed, and we’ll continue fighting to ensure that workers are paid every penny they’re owed.”
Financial Collapse of a Historic Retailer
HBC, founded in 1670, filed for protection under the Companies’ Creditors Arrangement Act (CCAA) on March 7, 2025. At the time of filing, the company operated 80 Hudson’s Bay stores, 3 Saks Fifth Avenue stores, and 13 Saks OFF 5TH locations across Canada.
Facing mounting financial pressure due to declining foot traffic and changing consumer habits, the company is liquidating its assets and reassigning store leases. One major lease acquisition involves Ruby Liu Commercial Investment Corp., which intends to launch a new department store concept in the vacated spaces.
In parallel, HBC has agreed to sell its intellectual property and brand assets, including the Hudson’s Bay name, to Canadian Tire Corporation for $30 million—pending court approval. The U.S. arm of Saks, operated independently by Saks Global, is not affected by the Canadian restructuring.
Hudson’s Bay store at CF Sherway Gardens in Toronto. Photo: Flickr
Labour Tensions Boil Over
The relationship between HBC and its unionized employees has deteriorated during the liquidation process. In April 2025, the company abruptly eliminated commission pay for sales staff at unionized locations. This move was met with swift opposition from Unifor, which argued it violated collective agreements. After filing a grievance, the union succeeded in reversing the decision, and commissions were reinstated in early May.
“The sudden elimination of commissions during liquidation was not just unfair—it was a violation of collective agreements,” stated Local 40 at the time. “The reversal is welcome, but the damage to morale is already done.”
Still, workers say the broader restructuring has been handled with little transparency, and the impact on long-serving staff has been severe.
Lease Disclaimers and Store Closures Intensify Uncertainty
As part of the CCAA process, HBC has disclaimed several store leases. Among these are five locations within the Primaris REIT portfolio that will revert to Primaris control on June 16, 2025. Additional store closures and lease disclaimers are expected in the coming weeks as liquidation wraps up.
Employees at affected stores fear they will be left without proper compensation. While WEPP offers some financial support, it does not cover full severance or protect pension entitlements—making it inadequate for many.
A Larger Fight for Worker Rights
For Unifor, the rallies represent more than just a response to one company’s collapse. They are part of a national campaign to reshape how Canada handles employer bankruptcies and to establish legal safeguards for workers’ financial wellbeing.
“Canada’s laws should not allow corporations to shed their obligations to workers while executives and creditors walk away whole,” said the union in a release ahead of the rallies.
Unifor has signalled that it may pursue legal and political avenues to ensure worker claims are respected. The union continues to work with legal counsel and government representatives to push for stronger protections and a more equitable outcome for all employees involved.
The Road Ahead
As liquidation progresses and Hudson’s Bay nears the end of its retail operations, the future remains uncertain for its workforce. Many are still awaiting clarity on compensation, termination, and access to federal support.
“The company must not be allowed to walk away from its obligations to the very people who kept it running,” said Unifor.
With calls for change echoing from the rally podiums in Windsor and Toronto, the battle now shifts to Parliament, where labour leaders hope to finally see Canadian insolvency law catch up to the realities faced by frontline workers in corporate failures.
Hudson's Bay flagship store in Toronto. Image: Craig Patterson
The Hudson’s Bay Company will lay off more than 8,300 employees—approximately 89 per cent of its workforce—by June 1, 2025. This mass layoff coincides with the closure of all remaining Hudson’s Bay retail stores across Canada, according to court documents filed as part of the company’s ongoing Companies’ Creditors Arrangement Act (CCAA) proceedings.
The layoffs and store closures are the result of a months-long liquidation process, which saw Hudson’s Bay sell off inventory, fixtures, and intellectual property in an attempt to pay down secured debts and exit its brick-and-mortar retail business. The company, which once operated 96 stores and four distribution centres nationwide, is in the final stages of winding down.
Most Stores Closed, But Some Staff Remain Briefly
According to an affidavit by Michael Culhane, Chief Operating Officer and Chief Financial Officer of Hudson’s Bay Company ULC, most store employees will be terminated by June 1, following the completion of the nationwide liquidation sale.
However, a smaller group of approximately 899 employees will remain on staff temporarily to assist with final sales of furniture, fixtures, and equipment (FF&E), as well as the closure of distribution centres, which are expected to cease operations by June 15, 2025. After that, just 118 employees will remain, primarily in corporate roles, to support the legal and administrative wrap-up of the company’s obligations under the CCAA.
“By June 1, 2025, the Company will have terminated approximately 8,347 of its employees,” reads the affidavit, adding that the remaining workers will be progressively let go as their responsibilities are completed.
An entrance to the Hudson’s Bay store at Toronto’s Yorkdale Shopping Centre on Monday, May 12, 2025. Photo: Craig Patterson
Employees Face Uncertain Financial Recovery
While some laid-off employees may be eligible for compensation under the Wage Earner Protection Program Act (WEPPA), the process is complex and the outcomes uncertain. WEPPA allows eligible employees to receive limited payments—currently capped at $8,844.22—for unpaid wages, termination, and severance if their employer enters insolvency proceedings.
In its court filings, Hudson’s Bay is seeking a WEPPA declaration, a necessary legal step that would allow Service Canada to process claims on behalf of affected employees.
“The Applicants are seeking the WEPPA Declaration… to assist eligible terminated employees of the Applicants in accessing payments in respect of eligible wages under WEPPA in a timely manner,” the documents state.
However, a post from Ursel Phillips Fellows Hopkinson LLP, the court-appointed Employee Representative Counsel (ERC), cautions that workers may not receive the full amounts owed to them. “Given HBC’s significant amount of secured debt, it is not clear that employees will be able to recover any amounts owing to them directly from HBC,” the firm noted on its website.
The End of an Era
The wind-down of Hudson’s Bay marks the closure of one of the world’s oldest continually operating companies. Founded in 1670 as a fur trading enterprise, HBC evolved over centuries into a department store chain synonymous with Canadian retail. In recent years, however, the business struggled with declining foot traffic, mounting debt, underinvestment, and a shift in consumer preferences toward e-commerce.
In March 2025, Hudson’s Bay entered court-supervised restructuring under the Companies’ Creditors Arrangement Act, seeking to liquidate assets and settle with creditors. At the time, the company employed over 9,300 people across Canada.
Since then, the company has:
Conducted a national liquidation sale at all locations,
Disclaimed dozens of store and distribution centre leases,
Sold its intellectual property portfolio, including its trademarks and brand assets, to Canadian Tire Corporation for over $30 million, and
Entered into an agreement to assign 28 former store leases to Ruby Liu Commercial Investment Corp., which plans to launch a new modern department store concept.
What’s Next?
Once all stores are closed and the final employees are laid off, Hudson’s Bay’s corporate entity will continue to exist in a reduced form for the purpose of winding up affairs through the CCAA process. Any additional announcements regarding asset sales, lease transfers, or creditor payments are expected to be made through court filings.
The fate of Hudson’s Bay’s vast archive of historical documents and artifacts—many of which have been donated to the Manitoba Museum and the Hudson’s Bay Company Archives in Winnipeg—remains a symbol of the company’s long legacy.
For employees and Canadians watching the historic retailer fade from the landscape, the end of Hudson’s Bay’s retail operations is more than a business story—it’s the closure of a cultural institution.
Hudson's Bay stripe products at the Queen Street flagship store in Toronto on March 15, 2025. Photo: Craig Patterson
Canadian Tire Corporation is set to acquire one of Canada’s most iconic brand portfolios, marking a historic moment in Canadian retail. As the Hudson’s Bay Company (HBC) winds down its operations under the Companies’ Creditors Arrangement Act (CCAA), Canadian Tire has emerged as the successful bidder in a court-supervised auction for HBC’s vast intellectual property (IP) holdings. The $30,001,670 deal, now subject to court approval, includes not just the name “Hudson’s Bay,” but an expansive trove of historical, cultural, and commercial assets that have defined Canadian department store retail for over three centuries.
The court filings, made public on May 27 reveal that the transaction encompasses far more than just the well-known stripes and the Hudson’s Bay name. Canadian Tire will acquire hundreds of trademarks, including some of the country’s oldest logos, nostalgic catchphrases, and references to discontinued businesses and banners.
Among the most historically significant items is the original name of the retailer, “The Governor and Company of Adventurers of England Trading into Hudson’s Bay,” as well as its heraldic coat of arms—a symbol adorned with four beavers, two elks, a fox, and the Latin motto pro pelle cutem (“a pelt for a skin”). This emblem has symbolized the company’s fur trading origins for centuries and is now included in the asset transfer. The deal does not include the Zellers discount brand that Hudson’s Bay relaunched in 2023 to much fanfare.
From “Bay Days” to Defunct Banners: A Deep Archive of Canadian Retail History
The deal gives Canadian Tire ownership of the “Bay Days” trademark—one of Hudson’s Bay’s best-known sales events—as well as household brand names such as Distinctly Home and Hudson North. Also included are IP assets tied to now-defunct banners and businesses like Home Outfitters, The Room (HBC’s luxury division), and event facility Arcadian Court in Toronto.
Canadian Tire will also gain ownership of private labels like Nordic Fleece, Beaumark Appliances, and Black Brown 1826—brands that have appeared on merchandise in Hudson’s Bay stores in recent decades. The sheer breadth of the IP portfolio underscores the deal’s significance: it is not merely a trademark sale but the transfer of an entire legacy.
Stripe blanket. Image: Hudson’s Bay Company
Iconic Slogans and Holiday Trademarks Change Hands
The trademarks acquired also include beloved slogans and phrases from HBC and its subsidiaries. Canadian Tire will obtain rights to:
Zellers’ famous jingle “Lowest price is the law”
“Shopping is good”
“More than you came for”
“Everything under the sun”
“Bring it home”
In addition, several holiday-themed trademarks—including “Official Store of Christmas,” “Christmas Street,” and “The Official Christmas Book of Gift Ideas”—are part of the transfer. These were commonly used in HBC’s promotional materials, especially during the peak department store window display era.
Hudson’s Bay’s former photo studio business is reflected in trademarks such as “Canada’s Cutest Baby,” “The Official Photographer of Growing Up,” and “The Official Photographer of Winning Smiles.” Other marks reference businesses like 1st Auto, Bay Optical, Bay Flowers, and Pharmamart—retail lines that the Bay has exited over time.
Digital Real Estate: Domains and Social Media Accounts Included
The deal includes a broad set of digital assets. Canadian Tire will gain control of key domains such as hbc.com, hbc.io, and thebay.com, along with lesser-known addresses like everyday.ca, mom.ca, and stuff4school.com.
Other domains relate to Kleinfeld, the upscale bridal boutique Hudson’s Bay once operated, and Galeria Kaufhof, the German department store chain previously owned by HBC. Even defensive URLs like thebay.sucks and hbc.sucks are included—evidence of HBC’s strategy to protect its brand from online reputational threats.
One especially notable domain is redmittens.ca, referencing the popular Olympic-themed winter accessories that became a national symbol during the Vancouver 2010 Winter Games.
Hudson’s Bay stripe products at the Queen Street flagship store in Toronto on March 15, 2025. Photo: Craig Patterson
Pendleton Licensing Rights Part of Deal Structure
A key component of the IP package involves HBC’s longstanding relationship with Pendleton Woolen Mills, the Oregon-based blanket and apparel manufacturer. In 2009, the two parties settled a dispute over trademark usage with an agreement granting Pendleton a perpetual, royalty-free, non-exclusive, worldwide license to use HBC’s Multistripe Design Mark and Bar and Point Design Mark.
Canadian Tire will assume this agreement as part of the sale. While Pendleton’s consent isn’t technically required for the transfer, HBC is seeking a court order to ensure the license assignment is recognized and legally protected during the transition.
Why Canadian Tire Won the Bid for Hudson’s Bay’s Legacy
The $30 million offer from Canadian Tire was chosen over 16 other bids, 13 of which specifically targeted HBC’s IP portfolio. Some of the competing bids were described as “indistinguishable,” prompting advisors to request clarifications and modifications to improve them. Ultimately, Canadian Tire’s proposal was deemed the most favourable in terms of speed, value, certainty, and strategic alignment.
In an affidavit, HBC’s new Chief Financial Officer Michael Culhane stated: “The Canadian Tire bid will allow for the company’s iconic marks and intellectual property to be utilized by another of Canada’s iconic retailers, ensuring that an important part of the company’s legacy will continue into the future.”
Court Hearing and Sale Approval Set for June 3
A hearing to approve the Asset Purchase Agreement is scheduled for June 3, 2025, in the Ontario Superior Court of Justice (Commercial List). As part of that motion, HBC is also seeking to seal a confidential appendix detailing the sales process, citing the commercially sensitive nature of some competing bids.
If approved, Canadian Tire is expected to close the deal by July 15, 2025. In the meantime, Hudson’s Bay has provided temporary transitional rights to signage and digital usage through the summer.
Hudson’s Bay stripes. Photo: Canadian Tire
What Happens Next: Leases, Artifacts, and Liquidation
The sale of intellectual property is just one piece of Hudson’s Bay’s broader wind-down strategy. On June 1, 2025, all 80 Bay stores and 13 Saks locations will close, resulting in more than 8,300 layoffs. An additional 899 workers from distribution centres will be laid off by June 15. Only 118 employees will remain to assist with the CCAA process.
Separately, HBC has also reached a deal with B.C.-based mall landlord Ruby Liu Commercial Investment Corp. to acquire 28 store leases, subject to landlord and court approval. Other lease and asset sales are still under review.
The company is also exploring the auction of 4,400 artifacts and art pieces, including the royal charter that originally established the Hudson’s Bay Company in 1670. Prospective buyers, including museums, Indigenous communities, and public institutions, are being invited to sign NDAs to review a virtual catalog as the company finalizes auction procedures.
A New Chapter for an Old Legacy
With this transaction, Canadian Tire is not simply acquiring trademarks—it is becoming the custodian of a national retail legacy. Whether Canadian Tire chooses to revive any of these brands, reimagine them for modern consumers, or preserve them for heritage purposes, the significance of the acquisition is undeniable.
As Hudson’s Bay prepares to exit the Canadian retail stage after 355 years, Canadian Tire will carry forward a collection of names, designs, and memories that helped define the Canadian shopping experience for generations.
Many questions and ideas will pop up when looking for the best eyewear, but you must make informed decisions. Outstanding eyewear is characterized by the quality of frames and fit, lens clarity, functionality, and protection, considering your style and preferences. Eyewear enthusiasts who don’t want to be at a crossroads should consider their face shape, skin tone, personality, and eye health.
Well, the brand you settle for is integral, and 6060 Glasses are the go-to options for their uncompromised quality, reliability, and cost-effectiveness. Every frame and style you choose from the brand is out of this world and what the young or old desire. In this article, we explore SixtySixty glasses in depth, the amazing work of Mariana Plakhotnaia and guide you to choose top-notch designs.
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Brand Choice: Comprehensive Guide to the Mariana Plakhotnaia’s Glasses
When you ponder the brand choice for your eyewear, many things will come to mind. The good news is that by trusting the SixtySixty glasses, you’ll have an established brand with identity. You’ll effectively communicate your why and crucial point of difference in your eyewear choice.
Overengineered products and profit-centric optometry offices dominate today’s eyewear market. However, Mariana Plakhotnaia’s good work at 6060 Glasses is exemplary and a game-changer in the competitive eyewear industry. The brand attracts a vast clientele base thanks to Plakhotnaia’s knowledge, architectural skillsets, and understanding of customers’ needs.
SixtySixty creates glasses that customers relate to and align with the brand’s vision. Their glasses offer something else comprehensively regarding design, convenience, and prices. Every eyewear design speaks clearly, is easy to access, and meets the needs of Gen Z whenever they need them and wherever they are globally.
SixtySixty is taking the market by storm and changing many people’s perceptions about reframing their eyewear. The brand promises and makes it a reality for many customers to have access and purchase $60 frames made in 60 minutes. Thanks to Mariana Plakhotnaia’s vision, the company has stood firm in its drive to meet customers’ needs and preferences.
It has all been about guaranteeing customer unrivaled speed, accessibility, and transparency in their reframing pursuits and spending sprees. The team behind the exclusive 6060 eyewear works diligently without compromising quality. So you don’t have to worry about how much a pair costs or how much you pay for reframing, as Mariana’s architectural language is about clarity and identity.
Here are facets that have spearheaded SixtySixty brand growth:
Values and Ethos
Plakhotnaia’s approach to spearheading SixtySixty’s vision has been genuine and quite strategic over the years. The company has always put its values and ethos at the forefront to meet potential customers’ rising consciousness of consumption. For instance, many customers, millennials or Gen Z, are satisfied with the company’s values and projects because they align with their own.
Buying 6060 eyewear has been an exceptional way for customers to depict their purchasing habits as an inseparable aspect of their identity. The company provides a landscape to illustrate the efficiency and simplicity of its brand. Hence, their customers can associate with a brand they believe contributes to social good and ethics.
Positive Experience
SixtySixty is a customer-centric eyewear provider and has been strategic in its operations. It prioritizes streamlined flow from entry to the exam room to the final fabrication stage of the frames. You’ll be welcomed with a comprehensive expert eye exam undertaken using state-of-the-art equipment and within the shortest time possible.
You can just walk into any of their flagships without making an appointment. This is an enthralling experience if you’re a frequent reframing customer, as there is no risk in seeking services you’re familiar with. For new customers, the experience of visiting and consulting experts like Mariana Plakhotnaia is positive and worth your time.
You’re not just moving through their stores; it’s an opportunity to learn more about their services and products. It’s a positive experience for new and loyal customers that reinforces shopping convenience and trust. Their stores facilitate short dwell times shopping or taking exams without feeling rushed, fulfilling the 60-minute promise of getting what you need.
Self-Identity
A visit to the SixtySixty Glasses store is worth your time and effort. The settings will grasp your attention from the word go, as the fixtures are unique and modern. With cutting-edge Mariana Plakhotnaia architectural know-how also integrated into the store design, the store is mobile and modular to meet everyone’s needs. The designer appreciates the preferences and habits of Gen Z, who desire personalization.
Many customers will consider visiting their stores as a part of their overall identity and buying their favorite glasses as a symbol of status and satisfaction. The interactive wall displays allow customers to make positive judgments and have the opportunity to explore reframing materials and lens options. The mirrors communicate more than the utilitarian value of the brand and make a statement about customer’s appearance and self-belief in their glasses.
Technical Knowledge
Mariana Plakhotnaia is a master of aesthetics and design with a creative vision. An incredible way the team has effectively translated ideas is through innovative and visually appealing technical areas and waiting bays. The aesthetic sensitivity of the settings is influenced by warm woods, soft illumination, and matte metals, enhancing the overall look and style.
A keen eye for detail ensures the on-site labs are well-crafted, inviting, and stylish. This craftsmanship is widely associated with fast and effective customer service. Customers can fruitfully understand how frame colors, shapes, and integral details influence their overall appearance from a designer’s perspective.
Practical Considerations
To Mariana Plakhotnaia, SixtySixty is a top-tier brand that pays much attention to customer needs and preferences. It’s a fashion and health eyewear hybrid they can trust and embrace to fulfill their desires. Customers should be open-minded, ask questions, and seek satisfying answers at their premises.
They bring to mind the feel of an exclusive design boutique and eliminate the clinical chilliness of the exam rooms. The reframing zones are a haven of joy and depict remarkable wearable architecture. SixtySixty embraces proprietary and customized machinery to offer all-inclusive and fashionable eyewear on-site.
Fundamentally, the SixtySixty brand and its products and services communicate Mariana Plakhotnaia’s clear vision. Customers from all walks of life learn about a unique design revolutionizing the eyewear industry that meets everyone’s needs. The brand’s future is bright, and the user-centered designs built in 60 minutes create eyewear that enhances style and confidence.
Toronto is now home to part of LEAFIO AI’s global footprint as the retail tech company continues its rapid expansion across the globe. Originally founded in Estonia, LEAFIO’s Co-Founder and Chief Commercial Officer Andrew Max has relocated to the Greater Toronto Area as the company strengthens its North American presence.
“We actually originally from Europe, from Estonia,” said Max. “But two years ago I moved here and some parts of my team moved here to Toronto, GTA. We already signed some contracts in the US and in Canada.”
Andrew Max
Max emphasized that his move to Canada was driven primarily by family reasons, not necessarily business expectations. “A retail world is quite conservative here and small and already aggregated in some few big players but for me personally, it’s much better to live in Canada than in the US with family, with kids.”
Despite initial modest expectations, interest in LEAFIO’s AI-powered retail automation solutions has grown steadily. “We signed already three contracts, three projects — Marché Leo’s in Toronto, Healthy Planet in Ontario, and TG Appliance Group also in Ontario — just because they found us somehow. They requested demo sessions through a website.”
LEAFIO’s reach now spans over 30 countries with active clients across North and South America, Europe, Asia, and Africa. “We have already customers in Brazil and Mexico, Ecuador, Chile, Argentina, South Africa, Morocco. United Emirates, Saudi Arabia, Vietnam, Malaysia,” Max noted. “We just recently signed a new contract in Australia.”
Despite regional differences in retail operations, Max stressed the universal nature of the challenges LEAFIO helps solve: “It’s the same issue.”
With over 55 active clients acquired in just two years of global expansion, LEAFIO’s AI-driven retail solutions are designed to address core retail challenges, including inventory management, assortment optimization, space planning, demand forecasting, and more.
“We’re just in the beginning of expansion.”
The company’s tech platform is entirely cloud-based and does not require software installation. “Everything is working through web browser as like Facebook or LinkedIn,” he said.
Among the tools LEAFIO offers are purchase order generation, promotion intelligence, and automated shelf planning. “We are making purchase orders. We’re sending them to suppliers. We are preparing and managing promotions.”
The system can keep track of sales data and inventory on shelves.
He explained how the system ensures promotional products are in stock when customers expect them.
On the shelf optimization front, LEAFIO uses AI to maximize sales and profit per metre. The platform also includes loyalty tools akin to what large Canadian retailers offer.
In addition to retail chains, consumer packaged goods manufacturers are increasingly using LEAFIO’s platform. “They don’t have the stores. But they have been cooperating with some big retail chains like Walmart.”
Currently employing 200 people worldwide, the company is steadily increasing its Canadian headcount. “Most of them are based in Europe but more and more we are hiring here in Canada. ”
As LEAFIO continues to expand and refine its global operations, Max welcomes collaboration with retailers and media partners alike.
With rapid adoption from both retailers and manufacturers, and a growing list of successful case studies — including Toronto-based Marche — LEAFIO is poised to become a key player in Canadian retail automation.
“We are, uh, like we are getting money from retailers. Mostly from retailers, but it’s also interesting case. We have more and more CPG manufacturers at our portfolio.”
Marché Leo’s, a well-known grocery chain in Canada, recently underwent a significant transformation by adopting LEAFIO Shelf Efficiency, its advanced retail optimization software. This case study highlights how they modernized their operations, achieved substantial improvements in shelf management, and enhanced the shopping experience for their customers.
Automated planogram creation: The implementation established a data-based process for creating automated planograms.
Improved planogram execution: The system enhanced planogram execution with the help of the LEAFIO AI mobile application for store employees.
Organized assortment management: More organized assortment management makes it easier to define and arrange the assortment for new stores.
Efficient new store openings: The retailer successfully opened a new store in Toronto using the solution, with plans to open more locations faster and more efficiently.
Digitized planograms: All planograms for shelf-stable products were digitized with LEAFIO Shelf Efficiency.
This success story underscores the growing importance of retail technology in tackling challenges faced by grocery retailers today, such as inventory management and planogram optimization.
As the company continues its mission to modernize retail through intelligent automation, Max remains committed to helping retailers worldwide thrive in an increasingly complex marketplace.
