Hudson’s Bay Company Reports Strong Year

In Industry News, Reports, What's New by Lauren ParkerLeave a Comment

Hudson's BayHudson’s Bay Company had continued growth for the fourth quarter and fiscal year ended January 31, 2016, with comp sales up 12% for the year and digital sales up 23.2%.

Jerry Storch, Chief Executive Officer, HBC commented, “Our growth continued in the fourth quarter, as our team executed our strategies and focused on innovation around the world. Our retail banners are uniquely diversified across both geography and retail concepts. On-line sales were especially strong, reflecting our focus on building superior digital capabilities and further integrating our brick and mortar and e-commerce businesses. As we continue to execute our all-channel strategy we are committed to providing our customers with an exceptional experience as they shop our banners whenever, wherever and however they choose.”

For the quarter beginning November 1, 2015 and ending January 31, 2016, HBC showed consolidated same store sales growth of 11.0%. On a constant currency comparable basis, consolidated same store sales increase of 1.8%. By property:

  • Department Store Group (“DSG”) same store sales increase of 4.0%
  • Saks Fifth Avenue OFF 5TH same store sales increase of 2.0%
  • Saks Fifth Avenue same store sales decrease of 1.2%
  • HBC Europe (GALERIA Kaufhof, Galeria INNO and Sportarena) same store sales increase of 0.4%
  • Digital sales increase of 22.8% on a constant currency comparable basis

For the fiscal year ended January 31, 2016, consolidated same store sales growth of 12.1%. On a constant currency comparable basis, consolidated same store sales increase of 2.5%:

  • DSG same store sales increase of 4.7%
  • Saks Fifth Avenue OFF 5TH same store sales increase of 6.3%
  • Saks Fifth Avenue same store sales decrease of 1.0%
  • HBC Europe same store sales increase of 1.7%
  • Digital sales increase of 23.2% on a constant currency comparable basis
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