Dec 5, 2016
Hudson's Bay quarterly sales boosted by European expansion, Gilt acquisition
, Reuters
Department store operator Hudson's Bay Co reported a 28.6 per cent rise in quarterly sales, helped by its expansion in Europe and the acquisition of online retailer Gilt.
The company's consolidated retail sales increased to $3.30 billion in the quarter ended Oct. 29, from $2.57 billion a year ago.
The retailer reported a net loss of $125 million in the quarter, compared with a net profit of $7 million, a year earlier.
The current quarter included gains of $3 million from the company's joint ventures compared to $91 million a year ago.
