TORONTO and NEW YORK, Jul 17, 2008 (PR Newswire Europe via COMTEX News Network) -- Retail Experience at Leading Retailing Icons Polo Ralph Lauren, The
Limited and Bloomingdales/Federated Department Stores

Richard Baker, Governor of Hudson's Bay Company,
announced today that Jeffrey Sherman will be appointed Chief Executive
Officer of Hudson's Bay Company.

Sherman joins Hbc from the Polo Ralph Lauren Corporation, where he held
the position of President and Chief Operating Officer, Polo Retail Group. At
Polo Retail Group Sherman was responsible for overseeing operations of the
company's global owned retail stores in the U.S., Europe and Asia, the global
Polo outlet division, Rugby, Club Monaco and ralphlauren.com.

Previous experience also includes Chief Executive Officer of The Limited
stores, the 360+ store heritage division of Limited Brands Inc. and
President, Chief Operating Officer of Bloomingdales, Federated Department
Stores. At Federated, Sherman had a 30-year career rising through the ranks
to the Chief Executive Officer and Chairman, Federated Direct when he left to
join The Limited.

"I am delighted to have someone with Jeff's caliber lead our team at
Hbc," said Richard Baker, Governor of Hudson's Bay Company. "His experience
at Polo, Bloomingdales/Federated and The Limited is unparalleled in the
industry and he will bring a wealth of retailing expertise to the Canadian
retail marketplace."

Sherman will be responsible for all of the Hbc banners in Canada: The
Bay, Zellers, Home Outfitters and Fields.

"I am excited about the opportunity to work with Hbc's strong management
team and grow the Hbc operations in Canada," said Sherman. "The Hbc brand is
a great Canadian icon and I am truly honoured to be leading this company."

About Hudson's Bay Company:

Hbc is Canada's largest diversified general merchandise retailer,
operating 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. With more than 580 retail outlets and nearly
60,000 associates in Canada, Hbc provides Canadians with stylish, quality
merchandise at great value, through retail banners focused on exceptional
customer service.

For further information: In Canada: Hillary Marshall, Hbc,
+1-416-861-6315 (direct), +1-416-705-7302 (mobile); In United States: Lori
Rhodes Lividini, Weisenfeld Partners, +1-646-443-2061 (direct),
+1-917-566-9131 (mobile)

For further information: In Canada: Hillary Marshall, Hbc, +1-416-861-6315
(direct), +1-416-705-7302 (mobile); In United States: Lori Rhodes Lividini,
Weisenfeld Partners, +1-646-443-2061 (direct), +1-917-566-9131 (mobile)

Copyright (C) 2008 PR Newswire Europe