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Money Hudson's Bay Co. posts $400M Q1 loss

16:36  05 june  2018
16:36  05 june  2018 Source:   msn.com

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Toronto– Hudson ’ s Bay Company reported Wednesday a million swing into a first quarter loss due to administrative costs even as sales increased. In the year-ago quarter, HBC posted 6 million in first quarter profit, but that was due to a 8-million gain from the sale and leaseback of its

Toronto—The Hudson ’ s Bay Company , which operates chains in Canada and Lord & Taylor in the United States, today reported that its first quarter loss narrowed as sales increased in its Canadian stores.

  Hudson's Bay Co. posts $400M Q1 loss © Provided by thecanadianpress.com TORONTO - Hudson's Bay Co. posted a loss of $400 million in its latest quarter compared with a loss of $221 million a year ago.

The retailer says the loss amounted to $1.70 per share for the fiscal first quarter ended May 5 compared with a loss of $1.21 per share in the same quarter last year.

On a normalized basis, HBC says its loss per share for the quarter amounted to $1.22 compared with a normalized loss of $1.15 per share a year ago.

Analysts on average had expected a loss of 87 cents per share, according to Thomson Reuters Eikon.

Revenue totalled nearly $3.09 billion, up from nearly $3.06 billion a year ago.

On Monday, HBC signed a deal to sell Gilt, an online retail business, to rival Rue La La.

Companies in this story: (TSX:HBC)

Roots reports bigger first quarter loss as sales hampered by winter storm .
Roots Corp. reported a loss of $5.6 million in its fiscal first quarter, an increase from the prior year, but also reported an improvement in sales. The loss amounted to 13 cents per share, compared with last year's loss of $5.1 million, or 12 cents per share.Its adjusted net loss was $4.5 million or 11 cents per share, compared with $3.6 million or nine cents per share a year ago.Analysts had expected a loss of nine cents per share, according to Thomson Reuters Eikon.

Source: http://ca.pressfrom.com/news/money/-77640-hudsons-bay-co-posts-400m-q1-loss/

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