April 4, 2017 / 10:14 PM / 8 months ago

BRIEF-Hudson’s Bay Company Q4 loss per share $0.83

April 4 (Reuters) - Hudson’s Bay Co:

* Hudson’S Bay Company reports fourth quarter and fiscal 2016 financial results

* Q4 retail sales increased 2.5% to $4.6 billion

* Q4 comparable digital sales increased 13.3% on a constant currency basis

* $75 million in annualized savings expected from initiative announced as part of company’s ongoing comprehensive operational review

* Q4 results include a non-cash goodwill impairment charge of $116 million related to HBC off price

* Net capital investments in fiscal 2017 are expected to be between $450 million and $550 million

* Inventory at end of Q4 decreased by $28 million compared to prior year

* Qtrly loss per share $0.83

* Company expects to combine inventory at Saks OFF 5th and Gilt by end of year

* Currently engaged in a cross-banner review of “productivity enhancements designed to make improvements in company’s operating model”

* Still believe both Saks OFF 5th and Gilt have “strong strategies in place with potential to generate long term profitable growth”

* Gross capital investment is expected to be between $1,025 million and $1,125 million in 2017

* Q4 revenue view C$4.48 billion -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage:

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