CBC Manitoba: Winnipeg shoppers ‘heartbroken’ as future uncertain for Hudson’s Bay Co.

Chi Liao, an associate professor of finance at the University of Manitoba, said the news is not at all unexpected.

“Historically, department stores have sort of catered to the middle class,” she said. “As that middle class sort of declines and … is having trouble paying their bills because of inflation or whatever else, then the consumer base for the department store is in decline.”

To read the entire article, please follow the link to CBC Manitoba.