Although there are some similarities in suppliers to HF for some items, the Princess has quite a bit that is targeted to a more farm supply type market - hydraulics and a lot of the electrical / trailer stuff, larger size tools, and so on. And they started out as Princess Street Auto Wreckers in Winnipeg, which sorta makes sense how they got into the oddball surplus type stuff.
I've bought an item or two from HF, but my impression was that it was a much more uniformly bargain basement stuff. Part of the joy of Princess is that there are some treasures to be found, and it carries oddities that make it fun to visit.