Hudson's Bay Co.

News that Wal-Mart, the biggest, most powerful retailer in the world, was entering the Canadian market with an instant presence by buying 122 Woolco stores caused pandemonium at Hudson’s Bay Co. (HBC) and its Zellers discount chain. Faced with the perception that Wal-Mart would “come-in and mow everyone down,” HBC’s CEO George Kosich and Zeller’s president Paul Walters had to decide how to withstand the assault, continue to grow, and remain Canada’s largest retailer.