Hudson's Bay same-store sales growth slows | Reuters
Hudson's Bay same-store sales growth slows
January 3, 2013 / 3:05 PM / in 5 years
* Same-store sales rise 1.9 percent in 9 weeks to Dec. 29
* Sales slip 4.4 percent at Lord & Taylor unit
TORONTO, Jan 3 (Reuters) - Canadian department store operator Hudson’s Bay Co reported a sharp deceleration in same-store sales growth on Thursday and said sales at existing Lord & Taylor stores fell in the last nine weeks of 2012.
HBC, which operates Hudson’s Bay in Canada and Lord & Taylor in the United States, warned in December that Superstorm Sandy would weigh on sales, as it forced 80 percent of Lord & Taylor stores to close or cut their hours.
For the nine weeks ended Dec. 29, consolidated same-store sales rose 1.9 percent, compared with 7.5 percent growth a year earlier. Excluding the impact of the storm, same-store sales would have increased 3.7 percent, the company said.
Same-store sales fell 4.4 percent at Lord & Taylor, and rose 6.7 percent at Hudson’s Bay. The figures include sales at locations open at least 13 months as well as online and clearance store sales.
Macy’s Inc said same-store sales rose 4.1 percent in December, just above the 4.0 percent analysts expected, but the department store chain lowered its fourth-quarter sales and profit forecasts.
HBC, which has seen very thin volume since its first few trading days, was unchanged at C$16.50 in early trading on the Toronto Stock Exchange.
Hudson's Bay same-store sales growth slows | Reuters
Hudson's Bay same-store sales growth slows
January 3, 2013 / 3:05 PM / in 5 years
* Same-store sales rise 1.9 percent in 9 weeks to Dec. 29
* Sales slip 4.4 percent at Lord & Taylor unit
TORONTO, Jan 3 (Reuters) - Canadian department store operator Hudson’s Bay Co reported a sharp deceleration in same-store sales growth on Thursday and said sales at existing Lord & Taylor stores fell in the last nine weeks of 2012.
HBC, which operates Hudson’s Bay in Canada and Lord & Taylor in the United States, warned in December that Superstorm Sandy would weigh on sales, as it forced 80 percent of Lord & Taylor stores to close or cut their hours.
For the nine weeks ended Dec. 29, cons
olidated same-store sales rose 1.9 percent, compared with 7.5 percent growth a year earlier. Excluding the impact of the storm, same-store sales would have increased 3.7 percent, the company said.
Same-store sales fell 4.4 percent at Lord & Taylor, and rose 6.7 percent at Hudson’s Bay. The figures include sales at locations open at least 13 months as well as online and clearance store sales.
Macy’s Inc said same-store sales rose 4.1 percent in December, just above the 4.0 percent analysts expected, but the department store chain lowered its fourth-quarter sales and profit forecasts.
HBC, which has seen very thin volume since its first few trading days, was unchanged at C$16.50 in early trading on the Toronto Stock Exchange.