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Company News

Hudson's Bay quarterly revenue slips 2.3%

Dec 10 (Reuters) - Hudson’s Bay Co reported a 2.3% fall in quarterly revenue, as the Canadian department store operator struggled to attract shoppers to its Saks Fifth Avenue and namesake stores.

Net loss widened to C$226 million ($169.91 million), or C$1.23 per share, in the third quarter ended Nov. 2, from C$161 million, or 88 Canadian cents per share, a year earlier.

The company’s total revenue fell to C$1.84 billion from C$1.89 billion.

The Saks Fifth Avenue owner in October agreed to a C$1.9 billion go-private deal with a consortium led by the company’s chairman Richard Baker, but is facing resistance from private equity firm Catalyst Capital Group that has offered a higher counter bid. ($1 = C$1.3301) (Reporting by Soundarya J in Bengaluru; Editing by Maju Samuel)

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