September 6, 2017 / 7:42 PM / a month ago

Land and Buildings warns of proxy fight with Hudson's Bay

(Reuters) - Activist investor Land and Buildings Investment Management threatened a proxy fight with Hudson’s Bay Co (HBC.TO) on Wednesday, after the Canadian department store chain reported lackluster second quarter results.

A woman holds a Hudson's Bay shopping bag in front of the Hudson's Bay Company (HBC) flagship department store in Toronto January 27, 2014. REUTERS/Mark Blinch

The investor said if the company failed to address its underperformance, then it could call a special meeting to remove directors.

HBC’s shares reversed course to trade up 3.02 percent on Wednesday, after falling as much as 6.4 percent, a day after posting a steeper-than-expected loss in the second quarter.

Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Arun Koyyur

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