UPDATE 2-Saks owner Hudson's Bay reports 34 pct rise in Q3 sales

Thu Dec 10, 2015 6:13pm EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* Q3 total same-store sales rise 12.9 pct

* Overall online sales jump 36.3 pct

* Profit C$0.01/share vs. loss C$0.07 year ago

* Cuts 2015, 2016 sales forecasts (Adds sales forecast)

Dec 10 (Reuters) - Canadian department store operator Hudson's Bay Co posted a 34 percent rise in quarterly sales, helped by higher same-store sales in North America and Europe and strong online sales.

However, the company cut its sales forecasts for 2015 and 2016, citing among other reasons the impact of terrorism incidents on its businesses in Belgium and Germany.

The company, which has been opening stores in North America including Saks and Saks Off 5th, said total same-store sales rose 12.9 percent in the third quarter.

Overall online sales jumped 36.3 percent in the quarter ended Oct. 31.

The company, which bought Germany's Kaufhof department store chain in June from Metro for 2.8 billion euros to expand into Europe, said last month it was planning more acquisitions.   Continued...