Not so long ago, a brand new subsidiary of Hudson’s Bay was opened in Tim’s hometown. This Canadian chain of department stores wants to gain a foothold in Europe. Many of the new stores in the Netherlands are opened in buildings which were abandoned by V&D. V&D, short for Vroom & Dreesmann, was a Dutch department store that was declared bankrupt on the final day of 2015. Hudson’s Bay thinks that there is still a future for department stores in the current retail landscape. Although the shops look fresh and inviting, the Hudson’s Bay store in Tims hometown has built up a reputation in its short lifespan as one of the best places in town to practice silence meditation.
In today’s Het Financieele Dagblad, there is an article which addresses the problems of Hudson’s Bay in the Netherlands to attract customers. The chain will change course and, starting at the beginning of next year, it will introduce cheaper brands in its stores. There are even rumors that Hudsons’s Bay HQ is considering shutting down its European operations. Edo Beukema, purchasing manager of Hudson’s Bay, denies these rumors: “In three year’s time, we will still be in Europe. I am willing to bet a bottle of very fine wine on that!” You know what time it is, when somebody uses words like these… Cheers!
After the X-mas presents had been unwrapped, investors came to the conclusion that not enough Apple products had been purchased as a gift this year. Apple stocks were among the biggest losers yesterday. And they dragged all indices down. The Dow lost 0.03%, the S&P 500 closed 0.11% lower and the NASDAQ ended 0.34% lower. Volatility was on the rise: the VIX closed more than 3% higher. XIV ETNs (+0.01%) and UVXY ETFs (-0.10%) barely moved, however.
Danny Daredevil remained in the black, as far as his RSS is concerned. He closed at 0.39%. Adventurous Anny is holding cash. Her RSS remained at 23%. Solid Suzy and Lazy Larry added the smallest possible gain. Their RSS closed just below 103%.
None of our models gave a trading signal at the end of yesterday’s session.
RSS = Return Since Start | YTD = Year-To-Date | QTD = Quarter-To-Date | AAR = Average Annual Return
That’s what you get when you rely on reindeer and sleigh for your transportation.
Visit a country where it only snows when you don’t need it (like The Netherlands), and you’re on your own.