HBC reports major gains in Q4

TORONTO — Hudson’s Bay Co. posted a steep increase in revenues and profits for the final quarter of fiscal 2015. The operator of the Bay, Lord & Taylor, and Saks Fifth Avenue banners saw net earnings rise to $370 million, more than doubling the figure of $115 million a year earlier. Revenue skyrocketed by more than 70% to about $4.5 billion, largely attributed to the acquisition of Galeria as the HBC Europe business. Comparable-store sales rose by 1.8% for the quarter and 2.5% for the year.