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Company News

Hudson's Bay reports worse-than-expected loss on lower retail sales

TORONTO, Dec 6 (Reuters) - Canadian department store Hudson’s Bay Co on Wednesday reported a wider-than expected quarterly loss as retail sales fell.

The owner of the Saks Fifth Avenue luxury retailer reported net loss that widened to C$243 million, or C$1.33, in the quarter ended Oct. 28, from C$125 million, or 69 cents, a year earlier.

Analysts had expected a net loss of C$138.2 million, according to Thomson Reuters I/B/E/S.

Reporting By Nichola Saminather; Editing by Nick Zieminski

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