No disrespect to Ms. Foulkes, but CVS’s retail standards and prowess are poor. The move into health services was smart, but the company’s failure to create a compelling proposition in growth areas like beauty and its lackluster approach to many other categories is lamentable. Even new CVS stores show very little imagination or flair.

Admittedly, CVS gets away with this because much of its business sits outside of traditional retail. It can also rely on essential purchases and prescriptions to drive footfall. Neither of these things is true at HBC. HBC needs core retail skills to thrive, and it needs them urgently.

Why not? She understands retail. She recognizes that retail is in transition. I think she’ll bring a fresh perspective that is not hindered by “how we’ve always done things around here.”

The lack of department store background may be an asset, not a liability, in terms of looking at HBC with a fresh set of eyes. (The incoming CEO and president of Kohl’s came from Starbucks and Walgreens, respectively, rather than a more “traditional” background.) Ms. Foulkes is correct about the strength of her company’s nameplates (especially Saks) but the traditional department store business has some obvious headwinds. Perhaps her biggest opportunity is to develop a robust omnichannel strategy, given that HBC has been a laggard here.

A fresh perspective is always needed, and Helena Foulkes’s new strategies may just be the spark to help spark the HBC banner’s businesses. A return to the retail fundamentals, merchandising, assortments and inventory optimization as well as a laser focus on the in-store and online shopping experience will be the key drivers of HBC’s resurgence.

Change is always good, especially in these very dynamic times.

Helena’s creative and transformational approach will breathe life back to these banners of retail. Since there is a portfolio of banners, she will likely determine the role of each. She will also access the talent on her team.

Helena Foulkes’ lack of department store experience could be exactly what Canada’s iconic retailer needs. Her history of consumer-centric strategy and digital prowess will make Hudson’s Bay Company more relevant and efficient. Streamlining supply chain processes will help the retailer keep up with consumer demand for speed. Foulkes also keeps an eye on the competition. CVS’ bold refusal to participate in “extreme Photoshopping” of beauty ads is one way Foulkes’ leadership differentiated the retailer and helped strengthen brand trust. She has what it takes to transform HBC.

Lack of department store experience does NOT mean she is destined to be unsuccessful. Hubert Joly had no retail experience (much less consumer electronics retail) and yet he proved to be the exact right leader for Best Buy at a major inflection point in that retailer’s history. Department stores are facing a lot of headwinds. Apparel has eroded as a spending category for consumers, much of the real estate portfolio is seeing significantly curtailed traffic, consumers have less enthusiasm for the department store format overall and then of course HBC has unique debt challenges. Add it all up and it’s highly unlikely that bringing in an experienced department store leader to follow the traditional department store playbook would be successful. I certainly agree that CVS has its own market challenges and Ms. Foulkes didn’t single-handedly solve them there, but in fairness she did run one of the most successful elements of that business. All that being said, HBC has a ton of assets and there is no reason those assets can’t be leveraged to help… Read more »

CVS’s decision to walk away from tobacco sales was one of the boldest, most forward-looking moves I’ve seen in years from a highly profitable, publicly-traded, category-leading retailer. If Ms. Foulkes had even a little bit to do with that decision, I like the hire. The department store needs bold new thinking now. Experience in the department store space is starting to seem like a liability.

“In the beginner’s mind are many possibilities, in the expert there are few.” Experience is overblown. Experience, by definition, is part of the past and very often is what prevents an organization from looking into the future. What HBC needs (as do most organizations) is wisdom and the ability to think in terms of possibilities. It seems that is why Ms. Foulkes was brought on board.

Her success is contingent on the WHOLE organization having the will, energy and commitment to think in new ways. Too often only a part of the organization welcomes new possibilities while other parts dig in refusing to break out of what they see as a safe zone. Without alignment focused on the highest possibilities, revitalization simply will not happen … at least not in a sustainable way.

Few retail entities have more of a legacy than Hudson’s Bay. Obsession with preserving legacy pretty well eliminates possibility. Hopefully she’ll be as brave as Radisson and des Groseilliers in taking HBC into new territory!

I think it’s great that HBC are being brave, they are thinking outside the box by going with someone who is not a traditional department store veteran pedaling the same old ideas. Retail as we all know is changing drastically. Ms. Foulkes has already shown she can make big calls with the removal of tobacco from CVS stores. I look forward with interest to seeing her first big statements for HBC and how they are embraced internally. More power to her I say.

I find this to be a most interesting and diverse discussion. It reminds me of the “conflict” we are experiencing with a non politician running the largest and richest country in the world. I am not getting political and am not voicing my opinion. Just seems to be a similar story with a couple character changes.

Department stores are one of the most challenging segments in retail, as much of their product mix are commodity products sold at many other stores and online marketplaces. It is easy for consumers to price compare these products online, which makes it difficult for department stores to compete. In addition, the customer journey and associated expectations continue to rapidly evolve — driving a major transformation in retail. Disruption and adaptation are changing the customer engagement model and blurring the lines among retailers, brands and wholesalers. Online pure-plays are opening brick-and-mortar stores and traditional retailers are experimenting with new store models: stores as showrooms, theatre, distribution centers or pop-ups. To enable the new customer experience and support its rapid evolution requires a different retail approach. Whatever most departments stores are doing – it isn’t working. They need radically different ideas and approaches. Helen Foulkes is a great choice for Hudson’s Bay, as she is willing to take risks and is a proven transformational leader. The two areas that she will likely impact the most is reshaping… Read more »

A good CEO can understand the basics of almost any business. However understanding at a high level doesn’t mean understanding the nuances. That’s where good people surrounding the CEO comes in. Helena Foulkes has a strong background that needs to be adapted to Hudson Bay.