The strong identity of the banner brands of Hudson’s Bay Company (North America’s longest standing retailer) offers a basis for growth into supplier relationships, demographic targeting, services and commerce. To focus on revenue growth versus the seductive areas of cost cutting or divesting of assets is the challenge to any new CEO.

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.

Ms. Foulkes has proven she is an innovative leader with a customer-centric focus. Providing a seamless experience between clicks and bricks will be a challenge but she plays the long game and in the end, she will succeed.

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.

It’s fascinating that health care organizations have been “importing” retail and consumer goods talent, and here we see retail going the other way. Ms. Foulkes has been a key force in trying to move CVS/pharmacy to CVS/health with the dropping of tobacco from stores and, most recently, delivering prescriptions to the curbside and peoples’ homes — taking a page out of Amazon Prime’s book in their own way. Ms. Foulkes brings a strong sense of consumer-centricity and corporate social responsibility to the job. From my health-and-wellness perch, I’m keen to see how she can translate this ethos to Hudson’s Bay portfolio of retailers.

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.

The challenges faced by HBC cannot be solved just by applying industry expertise. HBC has valuable assets, but requires a bold new vision and rapid innovation to gain relevance. Opportunities emerge from diverse perspectives, willingness to experiment, learning and adapting. Transforming HBC is not just about turning around the business, it’s also about igniting a culture of innovation. Leading a business through such a transformation requires clarity, courage and conviction. Ms. Foulkes has already demonstrated her ability to do so in her past role.

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.

I’ve been involved in several turnarounds. Some worked and some didn’t. Some had plenty of retail experience and some had no retail experience. I too like the example of Herbert Joly, who I think is one of the few retail CEO heroes. Folkes term at CVS was distinguished and admired.

However, Ms. Foulkes is dealt a rotten hand. Department stores are doomed; consumer behavior has shifted across North America. Fashion is much more difficult to sort than electronics and HRC store portfolio is both too broad and deep. I am eager to see how Ms. Gass performs at Kohl’s; its early days.

Of course, both Lord, and Taylor knew: “retail ain’t for sissies!”