UPDATE 1-Hudson's Bay same-store sales growth slows; Reitmans slides

Thu Jan 3, 2013 10:58am EST
 
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* HBC same-store sales rise 1.9 percent in 9 weeks to Dec. 29

* Sales slip 4.4 percent at HBC's Lord & Taylor

* Reitmans' same-store sales fall 3.4 percent in 5 wks to Dec. 29 (Wraps in Reitmans sales)

TORONTO, Jan 3 (Reuters) - Hudson's Bay Co said on Thursday sales growth in its established department store chains slowed during the two months including the holiday shopping season, while shares of Re i tmans Canada Inc dropped after the apparel retailer reported lower sales.

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 the storm 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.

At Reitmans, overall sales fell 5.4 percent in the five weeks ended Dec. 29, while sales at established stores, a key measure for retailers, fell 3.4 percent. For the nine weeks to Dec. 29, total sales fell 5.0 percent and same-store sales were 2.4 percent lower, the company said late on Wednesday.

At HBC, 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. Total retail sales rose 2.3 percent to C$1.11 billion.

The report came as U.S. retailers posted December sales figures. Some major players had a tough month as consumers were cautious in their holiday spending.   Continued...