April 11, 2017 / 5:14 PM / 8 months ago

BUZZ-Hudson's Bay Co: To invest about $424 mln in Europe

** Shares of Canadian retailer rise as much as 9.4 pct to C$12.04, hits 1-month high

** Shares rise for 5th day, with 5-day rally adding nearly 24 pct to stock’s value at Tuesday’s high

** Last Friday, HBC said it planned to invest around 400 mln euros ($424.28 mln) in Europe this year in a bid to grow its sales there by 20 pct over the next two years

** BMO maintains “outperform” rating and says despite continuing industry challenges, there is long-term value in HBC’s stock; Co posted Q4 loss last week and said it was looking at a “major reinvention” of operations

** Changing consumer trends and online competition have hurt retailers, especially department stores

** More than 1 mln shares change hands, 1.7x 30-day moving avg

** 3 of 11 brokerages rate the stock “buy”, 8 “hold” and 1 “sell”

** Up to Monday’s close, stock had lost over a third of its value in the last 12 months ($1 = 0.9428 euros)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below