Hudson Bay posts 9% sales increase

The Toronto-based department store operator Hudson Bay benefited from the successful integration of U.S. luxury chain Saks Fifth Avenue posting net profit from continuing operations of $111-million in the fourth quarter ended Jan. 31 compared with $37-million, or 21¢ per share, in the same period a year ago.

Hudson Bay’s sales climbed 9.3% to $2.63-billion. Same-store sales, an important retailing bellwether, rose 3.2% overall at its chains, with a climb of 2.3% at The Bay and Lord & Taylor, 2.6% at Saks Fifth Avenue, and a strong 12.1% at the discount banner Saks Off Fifth.

Saks Fifth Avenue, New York