USA HISTORY

Detailed explanation-1: -HBC was a fur trading business for most of its history, a past that is entwined with the colonization of British North America and the development of Canada. The company now owns and operates nearly 239 department stores in Canada and the United States, including Hudson’s Bay, Saks Fifth Avenue and Saks OFF 5TH.

Detailed explanation-2: -HBC is no longer involved in the fur trade and while fur is still trapped – this is known as wild fur – the majority of fur is now ranched. The fur trade directly employs over 70, 000 Canadians as well as adding over $750 million to the Canadian economy. There are more pelts sold today than in the early days of the HBC.

Detailed explanation-3: -As of summer 2020, the Hudson’s Bay Company operates the Hudson’s Bay Company, Lord & Taylor, Saks Fifth Avenue, Saks OFF 5TH, and Galeria Kaufhof. It does business in North America and Europe, primarily through a series of department and retail stores.

Detailed explanation-4: -Hudson’s Bay Company’s first inland trading post was established by Samuel Hearne in 1774 with Cumberland House, Saskatchewan.

Detailed explanation-5: -All this motivated Charles II when he granted the charter establishing the Hudson’s Bay Company, officially “The Governor and Company of Adventurers of England, trading into Hudson’s Bay, ” on May 2, 1670.