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Hudson's Bay Co (HBC.TO)

HBC.TO on Toronto Stock Exchange

10.06CAD
26 May 2017
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Latest Key Developments (Source: Significant Developments)

HBC announces comparable sales results for the first quarter ended April 29, 2017
Thursday, 11 May 2017 05:15pm EDT 

May 11 (Reuters) - Hudson's Bay Co ::HBC announces comparable sales results for the first quarter ended April 29, 2017.Hudson's Bay - on constant currency basis, consolidated comparable sales decrease of 2.9% for quarter beginning jan. 29, 2017 & ending April 29, 2017.  Full Article

HBC says engaged executive search firm to assist in recruiting CFO
Tuesday, 2 May 2017 04:10pm EDT 

May 2 (Reuters) - Hudson's Bay Co :HBC announces departure of chief financial officer.Hudson's bay co - Paul Beesley, has made decision to resign in early july.Hudson's Bay Co - Beesley will continue in his role over next two months to ensure a smooth transition.Company has engaged a executive search firm to assist in recruiting a new cfo.  Full Article

Hudson’s Bay Company Q4 loss per share $0.83
Tuesday, 4 Apr 2017 04:30pm EDT 

Hudson's Bay Co : Hudson’S Bay Company reports fourth quarter and fiscal 2016 financial results . Q4 retail sales increased 2.5% to $4.6 billion . Q4 comparable digital sales increased 13.3% on a constant currency basis . $75 million in annualized savings expected from initiative announced as part of company's ongoing comprehensive operational review . Q4 results include a non-cash goodwill impairment charge of $116 million related to HBC off price . Net capital investments in fiscal 2017 are expected to be between $450 million and $550 million . Inventory at end of Q4 decreased by $28 million compared to prior year . Qtrly loss per share $0.83 . Company expects to combine inventory at Saks OFF 5th and Gilt by end of year . Currently engaged in a cross-banner review of "productivity enhancements designed to make improvements in company's operating model" . Still believe both Saks OFF 5th and Gilt have "strong strategies in place with potential to generate long term profitable growth" . Gross capital investment is expected to be between $1,025 million and $1,125 million in 2017 .Q4 revenue view C$4.48 billion -- Thomson Reuters I/B/E/S.  Full Article

Hudson's Bay turns focus away from Macy's to Neiman Marcus, in talks to buy Neiman - CNBC
Tuesday, 14 Mar 2017 10:46am EDT 

Hudson's Bay Co : Hudson's Bay turns focus away from Macy's to Neiman Marcus and is in talks to buy Neiman in deal excluding debt - CNBC, citing DJ ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Hudson's Bay Q4 consolidated comparable sales fall 1.2 pct
Thursday, 23 Feb 2017 04:05pm EST 

Hudson's Bay Co : Hudson's Bay company announces comparable sales results for the fourth quarter ended January 28, 2017 . Hudson's Bay Co says has finalized an initiative to reduce expenses by rationalizing its corporate functions and overhead across North America . Hudson's Bay Co says annualized savings from initiative are expected to be approximately $75 million, majority of which are expected to be realized in 2017 . Hudson's Bay Co says in conjunction with initiative, company anticipates incurring one-time severance charges approaching $30 million . Hudson's Bay Co says initial savings from co's ongoing comprehensive operational review are expected to offset some of pressures facing business in 2017 . Hudson's Bay Co says , in fiscal 2017, company expects to pay significantly more variable compensation to its associates when compared to fiscal 2016 .Hudson's Bay - on a constant currency basis, consolidated comparable sales decrease of 1.2 pct for quarter beginning Oct. 30, 2016 and ending Jan. 28, 2017.  Full Article

Canada's competition bureau sues Hudson's Bay over alleged deceptive regular price claims
Wednesday, 22 Feb 2017 10:56am EST 

Canada's Competition Bureau: Canada's competition bureau sues Hudson's Bay over alleged deceptive regular price claims and clearance sales . Investigation found HBC engaged in deceptive marketing practices by offering sleep sets at grossly inflated regular prices .Canada's competition bureau has filed an application with competition tribunal seeking payment of an administrative monetary penalty by HBC.  Full Article

Hudson's Bay makes takeover approach to Macys - CNBC, citing DJ
Friday, 3 Feb 2017 10:10am EST 

: Hudson's Bay makes takeover approach to Macys - CNBC, citing DJ ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Hudson's Bay reports holiday sales results and provides update on fiscal 2016 outlook
Monday, 9 Jan 2017 05:01pm EST 

Hudson's Bay Co - : Hudson's Bay company reports holiday sales results and provides update on fiscal 2016 outlook . For nine week period beginning October 30, 2016 and ending December 31, 2016 on constant currency basis, consolidated comp sales decrease of 0.7% . Now expects 2016 total capital investments, net of landlord incentives, to be between $660 million and $710 million . Sees fiscal 2016 sales between c$14.4 billion to c$14.6 billion . Hudson's Bay co sees for fiscal 2016, adjusted ebitda c$615 to c$665 million . FY2016 revenue view c$10.95 billion -- Thomson Reuters I/B/E/S . Retail environment remained challenging in U.S. and Europe and significant promotional activity during holiday period had negative impact on margins . Margin pressure compounded by declining value of euro compared with canadian dollar which impacts translated earnings from hbc europe . Given sales results for holiday,lower than expected gross margins q4 to date, reducing 2016 sales, adjusted ebitdar, adjusted ebitda outlooks .Now expects fiscal 2016 total capital investments, net of landlord incentives, to be between $660 million and $710 million.  Full Article

Hudson's Bay reports Q3 loss per share of $0.69
Monday, 5 Dec 2016 04:39pm EST 

Hudson's Bay Co : Hudson's Bay Company reports third quarter 2016 financial results . Qtrly consolidated retail sales increased 28.6 pct to $3.3 billion from $2.6 billion a year ago . Inventory at end of Q3 increased by $217 million compared to prior year . Sees 2016 sales $14.5 to $14.9 billion . Sees 2016 adjusted EBITDA $700 to $785 million . Qtrly loss per share $0.69 . Company expects total capital investments, net of landlord incentives, to be between $700 million and $750 million in 2016 . Sets quarterly dividend of c$0.05per share .Q3 earnings per share view c$-0.26, revenue view c$3.38 billion -- Thomson Reuters I/B/E/S.  Full Article

Hudson's Bay Q2 loss per share C$0.78
Tuesday, 6 Sep 2016 04:08pm EDT 

Hudson's Bay Co : Hudson's Bay Company reports second quarter 2016 financial results . Hudson's Bay Co says provides commentary on fiscal 2016 outlook . Qtrly consolidated retail sales increased 59.6 percent to $3.3 billion , with comparable sales up 1.9 percent . Hudson's Bay Co sees fiscal 2016 adjusted EBITDA $800 to $950 million . Sees full-year 2016 sales C$14.9 to C$15.9 billion . Qtrly loss per share C$0.78 . Sees in fiscal 2016 it will make higher than normal investments in growth, with total net capital investments expected to be $750 million-$850 million .Q2 earnings per share view C$-0.65, revenue view C$3.27 billion -- Thomson Reuters I/B/E/S.  Full Article

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Saks owner Hudson's Bay shares drop on disappointing sales data

TORONTO Shares of Hudson's Bay Co , the owner of luxury department store chain Saks Fifth Avenue, slumped more than 6 percent on Friday after the retailer reported disappointing quarterly same-store sales.