Hudson's Bay reports same store sales growth of 12 percent

Hudson's Bay Company’s (HBC) consolidated same store sales for the fourth quarter increased 11 percent and 1.8 percent on constant currency basis. For the fiscal year ended January 30, 2016, consolidated same store sales growth was 12.1 percent and on a constant currency comparable basis, it was 2.5 percent.

"Our growth continued in the fourth quarter, as our team executed our strategies and focused on innovation around the world. Our retail banners are uniquely diversified across both geography and retail concepts. On-line sales were especially strong, reflecting our focus on building superior digital capabilities and further integrating our brick and mortar and e-commerce businesses,” said Jerry Storch, Chief Executive Officer, HBC.

Same-store sales improve across categories

For the quarter ending January 30, 2016, Department Store Group same store sales increased 4 percent, Saks Fifth Avenue OFF 5TH same store sales increased 2 percent, while Saks Fifth Avenue same store sales decreased 1.2 percent.

HBC Europe (GALERIA Kaufhof, Galeria INNO and Sportarena) same store sales increased 0.4 percent and digital sales for the quarter increased 22.8 percent on a constant currency comparable basis.

For the fiscal year ended January 30, 2016, DSG same store sales increased 4.7 percent, Saks Fifth Avenue OFF 5TH same store sales increased 6.3percent, but Saks Fifth Avenue same store sales decreased 1 percent. HBC Europe same store sales increased 1.7 percent and digital sales increased 23.2 percent on a constant currency comparable basis.