BRAMPTON, Ont. — Hudson’s Bay Co. said this week its Q2 loss came to $984 million, after a loss of just $280 million in the same period last year. On a per-share basis, the loss amounted to $5.35, compared to $1.45 a year ago. When one-time items are discounted, HBC said its normalized net loss totalled $171 million, compared to $85 million in Q2 of last year. Revenues were roughly flat at $1.9 billion. Comparable sales overall declined by 0.4%, with a 3.4% drop at within Hudson’s Bay banner offsetting gains of 0.6% at Saks Fifth Avenue and 3.4% at Saks Off Fifth.
HBC’s loss balloons in Q2
Most Recent
Most Read
Strongman kicks off final day of Hardlines Conference
Thu, October 24th, 2024
West Fraser reports Q3 loss
Thu, October 24th, 2024
Bank of Canada cuts its key interest rate
Thu, October 24th, 2024
Top hardware and home improvement retailers honoured from across Canada
Wed, October 23rd, 2024
Hardlines Conference concludes day one
Wed, October 23rd, 2024
Bélanger unveils rebrand, new products
Wed, October 23rd, 2024
Sexton, Geneviève Gagnon unite to form Quebec buying group
Tue, October 22nd, 2024
Hardlines Conference presents top speakers today
Tue, October 22nd, 2024
JRTech teams up with Brain Corp to bring autonomous inventory management to Canada
Tue, October 22nd, 2024
Retail Council report finds positive outlook among small businesses
Tue, October 22nd, 2024