Hudson's Bay operating loss widens, starts dividend

Tue Dec 11, 2012 7:17am EST
 
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Dec 11 (Reuters) - Canadian department store operator Hudson's Bay Co reported a steeper loss from continuing operations on Tuesday as it made its first quarterly report since returning to the public market in November and initiated a quarterly dividend.

For the third quarter ended Oct. 27, net loss was C$2.0 million, or 2 Canadian cents a share, compared with earnings of C$1.24 billion, or 12 Canadian cents, a year earlier.

The loss from continuing operations was C$8.5 million, or 8 Canadian cents a share, compared with a loss of C$7.5 million, or 7 Canadian cents, a year earlier.

The company, which operates Lord & Taylor in the United States and Hudson's Bay in Canada, said total retail sales rose 3.8 percent to C$930.4 million.