BUZZ-Hudson's Bay Co: Posts profit, sales rise

Thu Sep 10, 2015 11:28am EDT
 
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** Canadian-U.S. department store operator's shares up 4.7 pct at C$23.88

** Swings to Q2 profit, helped by gains from property deals from real-estate JVs formed earlier this year

** Sales rise 15.2 pct, online sales jump 30 pct; total same-store sales increase 4.2 pct

** Company expected to benefit in second-half of the year from synergies related to the Saks acquisition and additional costs saving opportunities that management has identified, RBC Dominion Securities analyst Sabahat Khan writes

** Up to Wednesday's close, stock had risen nearly 30 pct over the past 12 months