Canadian retailer Hudson's Bay posts smaller loss on Saks buy

Tue Dec 9, 2014 7:16am EST
 
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Dec 9 (Reuters) - Canadian department store operator Hudson's Bay Co posted a smaller quarterly loss, helped by its acquisition of U.S. upscale retailer Saks Inc last year.

Hudson's Bay said its net loss from continuing operations narrowed to C$13 million ($11.3 million), or 7 Canadian cents per share, in the third quarter ended Nov. 1 from C$126 million, or C$1.05 per share, a year earlier.

Retail sales nearly doubled to C$1.91 billion. ($1 = C$1.15) (Reporting by Solarina Ho in Toronto and Ashutosh Pandey in Bengaluru; Editing by Kirti Pandey)