Hudson’s Bay Co. Loss Narrows as Sales Increase at Saks

Toronto-based Hudson’s Bay Co.’s loss shrank in the third quarter with a boost in sales at Saks Fifth Avenue.

The net loss during the quarter was $13 million, or 7 cents per diluted share, compared with a loss of $125 million, or $1.05 per share, during the same period in 2013.

The company, which acquired Saks Fifth Avenue last year, nearly doubled its revenue with sales of $1.9 million in the third quarter.

Saks Fifth Avenue and Saks Off Fifth performed above average, with same-store sales growing 1 percent and 19.2 percent, respectively.

Comp-store sales for the department store group, which includes Hudson’s Bay, were up 1.7 percent

Men’s apparel, women’s shoes, beauty, and Topshop and TopMan sales led category sales in the quarter.

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