Canadian retailer Hudson's Bay raises sales forecast

Wed Sep 30, 2015 8:43am EDT
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Sept 30 (Reuters) - Hudson's Bay Co said it expects sales for the fiscal years ending in January 2016 and 2017 to "increase significantly" following the acquisition of German department store chain Galeria Kaufhof.

The Canadian department store operator raised its forecast for the current fiscal year to a range of C$11 billion to C$11.5 billion ($8.2 billion to $8.6 billion) from C$9 billion to C$9.3 billion.

Hudson's Bay, which also expects to gain from opening of new stores in North America, forecast sales of C$14.5 billion to C$15.5 billion for the next fiscal year. (1 US dollar = 1.3411 Canadian dollar) (Reporting by Shubhankar Chakravorty in Bengaluru; Editing by Shounak Dasgupta)