Company News

CORRECTED-BUZZ-Hudsons Bay: Falls after disclosing security breach at stores

(Corrects YTD number in last bullet)

** Canadian retailer’s shares fall as much as ~6.8 pct after disclosing security breaches at some N. America stores

** HBC last down 4.3 pct, 5th biggest pct loser on the TSX , which is off 0.5 pct

** Hudson’s Bay on Sunday reported security breaches at some of its Saks Fifth Avenue, Saks OFF 5th and Lord & Taylor stores across North America

** Co says “taken steps to contain” the breach, but does not confirm success in securing its network or say when the breach had begun or how many payment card numbers were taken

** HBC has missed analysts’ earnings estimate for at least eight quarters, struggling amid a tough retail environment

** HBC now down ~24.5 pct YTD vs. a 5.7 pct drop in the TSX (Reporting by Taenaz Shakir in Bengaluru)