BUZZ-Hudson's Bay Co: Lifts sales forecast on Kaufhof deal close

Wed Sep 30, 2015 10:56am EDT
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** Canadian-U.S. department store operator's shares up more than 10 pct at C$22.81; set for biggest intraday percentage gain in 3 months

** Company expects sales and earnings for fiscal years ending in January 2016 and 2017 to "increase significantly" following cost cuts and acquisition of German department store chain Galeria Kaufhof

** Not interested in merging the businesses of its German Kaufhof department store with that of rival chain Karstadt, the president of HBC International said on Wednesday

** Up to Tuesday's close, stock had risen nearly 17 pct in the past 12 months