Q3 net loss widens at Hudson’s Bay Company, same-store sales drop

Hudson’s Bay Company’s (HBC) third quarter comparable sales declined 1.7 percent. Third quarter revenues totalled 1.8 billion Canadian dollars, including 55 million Canadian dollars from liquidating stores at Saks Off 5th, Hudson’s Bay clearance centers, and HBC Netherlands. Digital sales increased 15 percent year-over year due to continued improvements in our data-driven marketing strategy. The company said that net loss from continuing operations was 175 million Canadian dollars, a 105 million Canadian decrease from the same period a year ago.