April 2, 2018 / 1:49 PM / in 2 years

Hudson's Bay shares drop after security breach at Saks, Lord&Taylor stores

TORONTO, April 2 (Reuters) - Hudson’s Bay shares dropped on Monday after the Canadian department store operator reported security breaches at some of its Saks Fifth Avenue, Saks OFF 5th and Lord & Taylor stores on Sunday.

The company’s shares fell as much as 6.2 percent and were trading 5.7 percent lower at C$8.41 as of 9:37 ET (1337 GMT), compared with a 0.2 percent loss on the Toronto stock benchmark . It was the second-biggest decliner on the index.

Hudson’s Bay said on Sunday it was the victim of a security breach that compromised data on payment cards used at some stores in North America, and that it had “taken steps to contain” the breach. (Reporting by Denny Thomas Editing by Chizu Nomiyama)

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