Canadian retailer Hudson's Bay posts 3-fold rise in profit

Mon Apr 4, 2016 5:02pm EDT
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April 4 (Reuters) - Department store operator Hudson's Bay Co reported a three-fold jump in quarterly profit, helped by the acquisition of Kaufhof and continued strength in its online business.

The company's net profit rose to C$370 million ($283 million), or C$1.88 per share, in the fourth quarter ended Jan. 30, from C$115 million, or 62 Canadian cents per share, a year earlier.

The company, whose roots in Canada date back to 1670, said its retail sales rose to C$4.49 billion from C$2.63 billion. ($1 = C$1.31) (Reporting by Anet Josline Pinto in Bengaluru; Editing by Maju Samuel)