The Hudson’s Bay Trading Company (HBTC) is a leading North American retailer with key banners spanning Canada and the United States. HBTC’s Canadian retail entity, The Hudson’s Bay Company, operates The Bay, a major department store, Zellers, a mass merchandise format, Home Outfitters, a kitchen, bed and bath specialty store, and value-priced Fields stores. In the US, HBTC’s banners include Lord & Taylor, an upscale specialty retailer with 48 stores in nine states and Creative Design Studios, the design and manufacturing division that creates branded collections for customers throughout North America and internationally.