Hudson's Bay Company's Q2 net loss widens

Hudson’s Bay Company’s (HBC) second quarter revenues totalled 1.9 billion Canadian dollars (1.4 billion dollars), including a 19 percent increase in digital sales, while comparable sales decreased 0.4 percent. The company said, gross margin declined 530 basis points year-over-year to 34 percent due to changes in store footprint, vendor relationships and merchandise, and a hyper-promotional market environment.