Department store operator Hudson’s Bay Co is considering a public stock offering in the first half of 2011.

President and chief executive Richard Baker said that although “nothing’s final”, the company was in talks over a listing on the Toronto Stock Exchange. “The offering could include all or part of Hudson’s Bay Co, which operates nearly 500 stores across Canada under the banners The Bay, Zellers, Home Outfitters and Fields,” he said.

Equity Partners, the New York-based private equity firm that owns the retailer, would retain a majority stake in Hudson’s Bay after the initial public offering, according to Baker.