Market Overview

HBC Announces Departure of President, HBC International


HBC or the "Company" (TSX:HBC) today announced Don Watros has made the
decision to leave HBC effective September 29, 2017.

"With a seasoned leadership team in place in Europe and our plans to
bring Hudson's Bay to the Netherlands and Saks OFF 5TH to Europe coming
to fruition, the time is right for me to pursue my next chapter," said
Mr. Watros. "I look forward to following the Company's continued growth."

"Don has been a great partner in supporting the growth and integration
of HBC's businesses over the years and was instrumental in HBC entering
Europe and helping to establish our structure there," said Richard
Baker, Governor and Executive Chairman, HBC. "We are grateful for his
dedication to the Company and wish him the best in his next endeavor."

"We greatly appreciate Don's contributions to HBC during his long tenure
with the Company, especially his work to bring HBC to Europe and support
the establishment of our office there," said Jerry Storch, CEO, HBC.
"I'm pleased that we have a strong team in place to continue to execute
on our strategy in Europe, as we invest in Galeria Kaufhof, grow Saks
OFF 5TH in Germany and enter the Netherlands with Hudson's Bay and Saks

An industry veteran, Mr. Watros has been with HBC for 11 years and has
seen the Company through major growth. He was appointed President, HBC
International in January 2015. Previously, he served as President of HBC
and before that as COO of the Company. Prior this role, he was Managing
Director of Retail Operations at NRDC Equity Partners during the
acquisitions of Lord & Taylor and Hudson's Bay Company. Mr. Watros has
also served as the Chairman of the Galeria Kaufhof Supervisory Board
since October 2015. The Supervisory Board will elect a new Chairman at
its meeting in October.

About HBC
HBC is a diversified
global retailer focused on driving the performance of high quality
stores and their all-channel offerings, growing through acquisitions,
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, with more than 480 stores and over 66,000
employees around the world.

HBC's leading banners across North America and Europe include Hudson's
Bay, Lord & Taylor, Saks Fifth Avenue, Gilt, Saks OFF 5TH, Galeria
Kaufhof, the largest department store group in Germany,
and Belgium's only department store group Galeria INNO.

HBC has significant investments in real estate joint ventures. It has
partnered with Simon Property Group Inc. in the HBS Global
Properties Joint Venture, which owns properties in the United
States and Germany. In Canada, it has partnered with RioCan Real Estate
Investment Trust in the RioCan-HBC Joint Venture.

For more information, visit our website.

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