HBC's first quarter revenues drop 3.3 percent

In its statement for the first quarter, Hudson’s Bay Company (HBC) said, first quarter revenues totalled 2.1 billion dollars, a decrease of 72 million dollars or 3.3 percent primarily due to operating fewer stores than a year ago and the comparable sales decline at Lord + Taylor. HBC’s first quarter comparable sales decreased 2.1 percent and increased 0.3 percent, excluding Lord + Taylor and Home Outfitters.