HBC’s Chief Financial Officer to Take Medical Leave of Absence

Becky Roof Appointed Interim CFO

TORONTO & NEW YORK–(BUSINESS WIRE)–HBC (TSX: HBC) today announced that its Chief Financial Officer Ed
Record will be taking a medical leave of absence, effective today. In
his absence, the company has appointed Becky Roof as Interim CFO.

Ms. Roof is a seasoned financial leader who previously served as interim
CFO at a number of large companies and is currently a managing director
at the global consulting firm AlixPartners, LLP, where she provides
advisory and C-suite interim management services. She brings significant
experience and will be supported by HBC’s Finance team and report to
Helena Foulkes, Chief Executive Officer.

About HBC

HBC is a diversified retailer focused on driving the performance of high
quality stores and their omni-channel platforms and unlocking the value
of real estate holdings. Founded in 1670, HBC is the oldest company
in North America. HBC’s portfolio today includes formats ranging from
luxury to premium department stores to off price fashion shopping
destinations. HBC’s leading businesses across North America include Saks
Fifth Avenue, Hudson’s Bay, and Saks OFF 5TH. As previously announced,
it is currently working with its financial advisors to review
alternatives for Lord + Taylor. HBC also has significant investments in
joint ventures. It has partnered with Simon Property Group Inc. in the
HBS Global Properties Joint Venture, which owns properties in the United
States. In Canada, it has partnered with RioCan Real Estate Investment
Trust in the RioCan-HBC Joint Venture. HBC previously announced that has
entered into a definitive agreement to sell its remaining stake in its
German real estate joint venture and divest its related retail joint
venture to its partner SIGNA, and that it is working with a financial
advisor to review options for its business in the Netherlands.


Investor Relations:
Jennifer Bewley
Phone: (646)
Email: jennifer.bewley@hbc.com

Andrew Blecher
Phone: (646) 802-4030
Email: press@hbc.com