HBC posts Q1 earnings, announces closures

TORONTO — Hudson’s Bay Co. said it garnered a net loss of $314 million in Q1, widening from $214 million a year ago. Total revenues amounted to $3.1 billion, up by $30 million or 1% from the same period in 2017. At the same time, the company announced the Lord & Taylor banner will strengthen its focus on the online channel, closing up to 10 bricks-and-mortar locations by the end of next year, including the flagship New York store. The company has also reached a deal to sell its under-performing lifestyle website Gilt to online retailer Rue La La.