Hudson's Bay same-store sales up 1.9% for final nine weeks of year
Casual Living Staff -- Casual Living, January 4, 2013
Toronto - Hudson's Bay Company said its same-store sales increased 1.9% for the nine weeks ending Dec. 29, including a $20 million hit taken by its U.S.-based Lord & Taylor chain following Hurricane Sandy.
Excluding the hurricane's impact, the retailer said same-store sales would have increased 3.7%.
In a preliminary financial report issued Thursday, the company said its Hudson's Bay stores, which weren't affected by Sandy, had a same-store sales increase of 6.7% in Canadian dollars, while same-store sales at Lord & Taylor fell 4.4% in U.S. dollars.
Total sales for the nine-week period were C$1.11 billion, an increase of 2.3% from C$1.08 billion in the nine weeks ended Dec. 31, 2011.
For the 48 weeks ended Dec. 29, sales were C$3.8 billion, an increase of 4.6% from C$3.63 billion in the 48 weeks ended Dec. 31, 2011.
During the most recent 48-week period, same-store sales were up 4%, the retailer said.
Hudson's Bay stores had a same-store increase of 5.5% in Canadian dollars, while Lord & Taylor had a same-store increase of 2% in U.S. dollars.
The company has 48 Lord & Taylor stores in the northeastern and Midwestern U.S., as well as 90 Hudson's Bay department stores in Canada. In addition, the company operates the 69-store Home Outfitters bed and bath superstore chain in Canada.