HBC posts loss as banners split on sales

TORONTO — Hudson’s Bay Co. reported a $142 million net loss for the third quarter, a sharp contrast with the $59 million profit it turned during the same period last year. The retailer’s European expansion and the addition of the online Gilt banner helped to boost consolidated sales by almost 60%, reaching $3.25 billion. On a constant currency basis, however, total comparable sales fell by 1.3%, as the 1.1% growth in the Hudson’s Bay, Lord & Taylor, and Home Outfitter banners was offset by declines elsewhere. Sales fell 0.9% at HBC Europe, 11.4% at HBC Off Price, and 1.3% at Saks Fifth Avenue.