HBC posts Q4 loss on higher sales

TORONTO — HBC took a $152 million hit during the holiday season that challenged department stores generally, the company reported this week. It has also continued to feel the impact of acquisitions made over the past few years, notably of Saks Fifth Avenue. “The past year was a disruptive one for the retail industry,” said CEO Jerry Storch. “While the department store sector remains challenging, we are taking decisive action and making the tough decisions to ensure continued performance should the current environment persist.” The loss is compared to a $370 million profit in the previous Q4, even as sales of $4.6 billion were up from $4.5 billion.