Hudson's Bay Co. sales get bump from currency fluctuation, digital sales

TORONTO - Hudson's Bay Co. has given investors a preliminary look at its financial performance at the end of last year.

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The Toronto-based company (TSX:HBC) says same-store sales growth was up 11 per cent overall -- although that was boosted by a higher U.S. dollar compared with the Canadian currency that HBC uses for financial reporting.

On a constant-currency basis, sales at HBC stores that have been open for at least a year were up 1.8 per cent overall.

Saks Fifth Avenue lagged the other parts of HBC's retail group, with same-store sales down 1.0 per cent on a constant-currency basis.

HBC's older banners, including Hudson's Bay and Lord & Taylor, had same-store sales rise 4.7 per cent and its Saks Off 5th banner had a 6.3 per cent increase in same-store sales.

Sales through HBC's online and digital channels were up 22.8 per cent on a constant currency basis in the three months ended Jan. 31, which includes the important holiday shopping season.


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