Sales Up at Hudson’s Bay
CBJ — The last quarter marked a 34% increase in sales for Hudson’s Bay thanks to higher same-store sales in North America and Europe and strong online sales.
However, the company cut its sales forecasts for 2015 and 2016, citing among other reasons the impact of terrorism incidents on its businesses in Belgium and Germany.
Hudson’s Bay has been opening stores in North America including Saks and Saks Off 5th, said total same-store sales rose 13% in the third quarter.
Overall online sales jumped 36% in the quarter ended Oct. 31.
North American retailers are hoping for a strong holiday season after a less-than-exciting back-to-school quarter, which led to a selloff in retail stocks.
Hudson’s Bay cut its 2015 sales forecast to $10.7-billion– $11.2-billion from $11-billion – $11.5-billion.