HUDSON’S BAY COMPANY SHOWS SALES GAINS IN FOURTH QUARTER
Hudson’s Bay Company (HBC) has announced its same store sales results for the fourth quarter and fiscal year ending January 31, 2016 with positive results despite the rough retail climate.
For the fourth quarter beginning November 1, 2015 and ending January 31, 2016 HBC reported a consolidated same store sales growth of 11 percent, while digital sales increased 22.8 percent on a constant currency comparable basis.
By division, Department Store Group reported same store sales increase of 4 percent; Saks Fifth Avenue OFF 5TH same store sales increased by 2 percent; Saks Fifth Avenue same store sales decreased 1.2 percent; and HBC Europe reported same store sales increased by 0.4 percent.
“Our growth continued in the fourth quarter, as our team executed our strategies and focused on innovation around the world,” said Jerry Storch, CEO of HBC. “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 fiscal year ending January 31, 2016, HBC reported consolidated a same store sales growth of 12.1 percent, while digital sales increased 23.2 percent on a constant currency comparable basis. By division, Department Store Group reported same store sales increase of 4.7 percent; Saks Fifth Avenue OFF 5TH same store sales increased by 6.3 percent; Saks Fifth Avenue same store sales decreased 1 percent; and HBC Europe reported same store sales increased by 1.7 percent.
HBC intends to announce full financial results for the quarter and year ended January 31 after the market close on April 4.
