×
523
Fashion Jobs
FOUR SEASONS RECRUITMENT
Ecommerce Manager
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Sales Supervisor
Permanent · LONDON
TOO FACED
Too Faced Business Manager, Boots - Oxford
Permanent · OXFORD
TOO FACED
Too Faced Business Manager - Boots, Leeds Trinity
Permanent · LEEDS
FOUR SEASONS RECRUITMENT
Merchandising Manager
Permanent · LONDON
360 RESOURCING
Account Manager
Permanent · LONDON
BIMBA Y LOLA
Sales Assistant Brompton Road
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant Brompton Road
Permanent · LONDON
BIMBA Y LOLA
Sales Assistant Richmond
Permanent · LONDON
HAYS RETAIL
Retail Operations Manager
Permanent · LONDON
NEXT RETAIL LTD
Home Design Consultant
Permanent · CAMBERLEY
NEXT RETAIL LTD
Warehouse Administrator
Permanent · DONCASTER
HAYS RECRUIMENT
E-Commerce Manager
Permanent · LONDON
HAYS RECRUIMENT
Eyewear Account Manager South London
Permanent · LONDON
NEXT RETAIL LTD
Home Design Consultant
Permanent · CARDIFF
NEXT RETAIL LTD
Sales Coordinator - Permanent
Permanent · LONDON
360 RESOURCING
Head Office Recruitment Consultant - Fashion Retail
Permanent · LONDON
360 RESOURCING
Temps Controller / Temps Recruitment Consultant - Fashion Retail
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Production Manager-Shoes & Slg-Luxury- London Salary up to £70k
Permanent · LONDON
DEPLOY LONDON
International Sales & Marketing Manager
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Digital Marketing Manager
Permanent · LONDON
TOO FACED
Too Faced Business Manager - Boots Brentwood, UK
Permanent · BRENTWOOD

Hudson's Bay profit bests on Saks Fifth Avenue, online strength

By
Reuters
Published
today Apr 3, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Hudson’s Bay Co on Wednesday reported a quarterly profit that topped estimates, as sales at its Saks Fifth Avenue stores rose during the holiday shopping season and the Canadian company benefited from an increase in online sales.


Comparable sales at Saks rose almost 4 percent - Saks Fifth Avenue


Comparable sales at Saks rose almost 4 percent, while the company’s total comparable digital sales, which includes online transactions, rose 8.7 percent in the quarter.

Chief Executive Helena Foulkes said Saks Fifth Avenue stores outside New York City fueled sales, as the iconic Fifth Avenue flagship in Manhattan was undergoing renovation.

“Saks has been particularly good at identifying both top stores and top customers to invest in, and I see that as a real opportunity at Hudson’s Bay,” Foulkes told Reuters.

The company’s total fourth-quarter comparable sales decreased 1.4 percent. Same-store sales at Hudson’s Bay, Lord & Taylor and Home Outfitters tumbled 5.2 percent in the quarter.

Foulkes said the company had an opportunity to win Sears Canada Inc customers after the struggling retailer shuttered its stores but “took it too far” by adding too much merchandise at too many Hudson’s Bay department stores aimed at appealing to a lower-end customer.

HBC, which has been shutting underperforming stores to cut costs, posted a C$226 million ($170 million) loss from continuing operations in the fourth quarter, on the back of a restructuring charge of C$194 million.

The company also entered into a joint venture for its European business, sold its unprofitable online brand Gilt and has said it will close up to 10 struggling Lord & Taylor stores after selling the brand’s flagship building in Manhattan.

After adjusting for one-time items, the company earned 41 Canadian cents per share, beating the analyst average estimate of 25 Canadian cents, according to IBES data from Refinitiv.

Hudson’s Bay shares were flat in early Wednesday trade.

© Thomson Reuters 2020 All rights reserved.