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Company News

Hudson's Bay second-quarter loss widens on lower sales

TORONTO, Sept 12 (Reuters) - Canadian department store operator Hudson’s Bay Co said on Wednesday its second-quarter loss widened due to lower sales from its Lord & Taylor, Hudson’s Bay and Saks OFF 5th banners.

The owner of the Saks Fifth Avenue luxury retailer reported a net loss of C$147 million ($112.65 million), or 62 Canadian cents a share, in its North American operations for the quarter ended Aug. 4. That compared with a loss of C$100 million, or 55 cents, a year earlier.

Including its European business, for which it announced a joint venture with Austrian rival Signa Holding on Tuesday, the company reported a net loss of C$264 million, widening from C$201 million a year ago. Analysts had expected a loss of C$173 million, according to Thomson Reuters I/B/E/S.

$1 = 1.3049 Canadian dollars Reporting By Nichola Saminather; Editing by Bernadette Baum

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