Hudsons Bay revenue slips as sales fall at all stores except Saks

Hudsons Bay revenue slips as sales fall at all stores except Saks

first_img Comment Saks Off Fifth comparable sales declined 2.1 per cent.Bloomberg Twitter Reddit Hudson’s Bay revenue slips as sales fall at all stores except Saks Fifth Avenue Revenue falls 1.6% The Canadian Press Recommended For YouPet Heroes to Receive a Medal of HonourHealth Canada changes cannabis licensing process in bid to cut wait timesBoca’o Launches the First Spanish Tapas Food Truck in CanadaCanada’s two largest railways moved record grain tonnage in AprilWilliam Watson: Let’s face it. Canada is a nation of annoying humblebraggarts Facebook Share this storyHudson’s Bay revenue slips as sales fall at all stores except Saks Fifth Avenue Tumblr Pinterest Google+ LinkedIn More 0 Commentscenter_img April 3, 20197:48 AM EDTLast UpdatedApril 3, 20198:30 AM EDT Filed under News Retail & Marketing TORONTO — Hudson’s Bay Co. reported its fourth-quarter revenue slipped to $2.89 billion, down from $3.05 billion a year earlier when the quarter included an extra week.Excluding the extra week, revenue in the quarter ended Feb. 2 was down $47 million or 1.6 per cent compared with a year ago.Overall comparable store sales for the quarter were down 1.4 per cent, while they increased 3.9 per at HBC’s Saks Fifth Avenue stores and fell 5.2 per cent at its Hudson’s Bay, Lord & Taylor and Home Outfitters stores. Saks Off Fifth comparable sales declined 2.1 per cent.HBC reported a net profit of $286 million or $1.20 per share for the quarter, up from $84 million or 39 cents per share in the same quarter last year.However, the retailer said it lost $226 million or 95 cents per share from its continuing operations compared with a profit of $180 million or 84 cents per share a year ago.HBC announced in February it would shutter its Home Outfitters business and was eyeing the closure of up to 20 of its Saks Off Fifth locations in a bid to increase profitability.Related Stories:Walgreens third-quarter profit falls 23.6%Corona maker Constellation Brands beats quarterly sales estimatesCintas Corporation Announces Record Fiscal 2019 Results advertisement Join the conversation → Featured Stories What you need to know about passing the family cottage to the next generation ← Previous Next → Sponsored By: Emaillast_img

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