Canadian retailer Hudson's Bay's quarterly sales rise about 29 percent

Mon Dec 5, 2016 5:24pm EST
 
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(Reuters) - Canadian department store operator Hudson's Bay Co (HBC.TO: Quote) reported a 28.6 percent 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 C$3.30 billion in the quarter ended Oct. 29, from C$2.57 billion a year ago.

The retailer reported a net loss of C$125 million in the quarter, compared with a net profit of C$7 million, a year earlier.

The current quarter included gains of C$3 million from the company's joint ventures compared to C$91 million a year ago.

(Reporting by John Benny and Swetha Gopinath in Bengaluru; Editing by Shounak Dasgupta)

 
A man exits a Hudson's Bay department store in Toronto, Ontario, Canada June 6, 2016. REUTERS/Chris Helgren/File Photo