North West Company Inc (TSX:NWC) News and Share PriceRetail
The North West Company Inc, a publicly listed firm, provides retailing services across rural and urban markets in Canada.
The company primarily has operations in Western Canada, Northern Canada, rural Alaska, the Caribbean, and the South pacific islands.
The Canadian company sells various products through a retail store network, including housewares, appliances, family apparel, food, and outdoor products.
It claims to generate a significant portion of the revenue from sales of food products.
The company also specializes in local household, lifestyle products and utilities. North West Company claims to have been in the retailing and trading business for over 200 years.
The stores located in Alaska and Northern Canada reportedly serve communities with population between 500 to 8000.
The company says that a typical store covers 7500 square feet area.
Apart from food products, housewares, etc., the company also offers value-added services like post offices, income tax return preparation, commercial business sales, quick service prepared food, cheque, cash and money transfer.
North West Company aims to increase its foothold within existing locations by apply expertise and infrastructure to new markets and related businesses.
The Canadian retailer claims to offer unique selling opportunities according to local lifestyles and cultures.
The retail company also focuses on store management selection and learning programs, store development flexibility, store level merchandise ordering, community relation and profit-sharing incentive plans, reportedly.
North West Company’s history dates back to 1779. Initially the company claims to have faced competition from HBC traders. However, in 1821 the two rivals merged to form a new entity under the name The Hudson’s Bay Company.
The combined company owned 173 trading posts and 3 million square miles of land during that period.
By 1881, the company shifted its focus from fur trade to rail transportation, agriculture land development and cash-based retailing.
In the 1990s, the company rebranded itself as The North West Company and purchased HBC’s northern stores division.
The company opened its first NorthMart store in La Rong, Saskatchewan, in 1994, followed by subsequent openings at other locations such as Hay River, Inuvik, Happy Valley and Iqaluit.
In 2001, the Canadian retailer in association with Giant Tiger Stores Limited opened stores across Western Canada under the ‘Giant Tiger banner’. In addition, first such store was launched in Winnipeg and Thompson.
The company acquired North Star Air in 2017, an airline company dealing with passenger and cargo services.
77 Main Street Winnipeg, Manitoba Canada R3C 1A3