Hudson's Bay Co. Q1 Sales Improve
August 1, 2013-- Home Textiles Today,
TORONTO - Hudson's Bay Company generated a 4.2% gain in total sales in the first quarter with consolidated same-store sales up 4.0%.
The Hudson's Bay division, which includes 69-unit Home Outfitters, boosted comps by 7.6% during the quarter. Comps at Lord & Taylor slipped 1.4%.
As is the case for many retailers, ecommerce experienced robust growth, with sales up 32.8% to $31.1 million (Canadian). Total company sales for the quarter were $844.0 million (Canadian), or approximately $827 million U.S.
For the quarter ended May 4, net loss narrowed to $80.7 million (Canadian) from $129.7 million (Canadian) in the year ago quarter.
"Our strong sales growth can be attributed to several factors, including improvements in store productivity, increased e-commerce sales, and our partnership with Topshop/Topman," said Richard Baker, Hudson's Bay Company's Governor and ceo.