From its origins in the fur trade, the Hudson's Bay Company is the oldest corporation in North America and was the largest department store operator in Canada until the mid-1980s, with locations across the country. It also previously owned Zellers, another major Canadian department store which ceased to exist in March 2013 after selling its lease holdings to Target Canada. Other department stores in Canada are: Canadian Tire, Sears Canada, Ogilvy, Les Ailes de la Mode, Giant Tiger, Co-op, Costco and Holt Renfrew. Grocery giant Superstores carry many non-grocery items akin to a department store. Woolco had 160 stores in Canada when operations ceased (Walmart bought out Woolco in 1994). Today low-price Walmart is by far the most dominant department store retailer in Canada with outlets throughout the country. Historically, department stores were a significant component in Canadian economic life, and chain stores such as Eaton's, Charles Ogilvy Limited, Freiman's, Spencer's, Simpsons, Morgan's, and Woodward's were staples in their respective communities. Department stores in Canada are similar in design and style to department stores in the United States.

What business was the Hudson's Bay Company originally involved in?