May 12, 2017 / 1:50 PM / 4 months ago

Saks owner Hudson's Bay shares drop on disappointing sales data

TORONTO, May 12 (Reuters) - Shares of Hudson’s Bay Co , the owner of luxury department store chain Saks Fifth Avenue, slumped more than 6 percent on Friday after the retailer reported disappointing quarterly same-store sales figures.

After markets closed on Thursday, the Toronto-based retailer said comparable store sales fell 2.9 percent during the first quarter, hurt by fewer customers shopping in its stores, particularly in the United States.

Results mirrored other U.S. department stores that posted weaker-than-expected quarterly same-store sales.

The stock fell 6.4 percent to C$10.01 in early trading.

Reporting by Solarina Ho; Editing by Bernadette Baum

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