Home / Knowledge / News / Apparel/Garments / Hudson's Bay Company online sales zooms 63% in FY'13
Hudson's Bay Company online sales zooms 63% in FY'13
15
Apr '13
Hudson's Bay Company reported its results for the 14-week and 53-week periods ended February 2, 2013. The 14-week period was characterized by strong same-store sales growth at Hudson's Bay in Canada and early progress on cost reduction initiatives, offset in part by the previously announced impact of Hurricane Sandy on Lord & Taylor in the United States.
 
Highlights (14-week and 53-week periods ended February 2, 2013)
-Consolidated sales increased 6.7% for the 14-week period and 5.9% for the 53-week period.
 Same store sales:
-Consolidated same store sales increased 2.1% for the comparable 13-week period and increased 4.0% for the comparable 52-week period.
- Hudson's Bay stores grew 6.1% for the comparable 13-week period and grew 5.4% for the comparable 52-week period.
- Lord & Taylor stores declined 2.9% on a U.S. dollar basis for the comparable 13-week period due primarily to the impact of Hurricane Sandy and grew 2.2% on a U.S. dollar basis for the comparable 52-week period.
-Online sales grew 57.0% for the comparable 13-week period and 63.0% for the comparable 52-week period.
- $8 million in annual cost savings initiatives were delivered in the fourth quarter.
- Normalized EBITDA was $177.1 million or 12.8% of sales for the fourth quarter and $310.0 million or 7.6% of sales for the full year.
- Normalized net earnings were $0.86 per share for the 14-week period compared to $0.91 per share for the 13-week period the previous year. Normalized net earnings for the 53-week period were $0.71 per share compared to $0.65 per share for the 52-week period ended January 28, 2012.
- A dividend of $0.09375 per common share was declared, payable on April 15, 2013 to shareholders of record on March 28, 2013.
 
 
Financial Results
With the exception of same store sales comparisons or unless otherwise noted, all comparative figures below and in the "Highlights" section and throughout this news release are for the 14-week (or "fourth quarter") and 53-week periods (or "Fiscal 2012") ended February 2, 2013 compared to the 13- and 52-week periods ended January 28, 2012. 
 
During the week commencing October 28, 2012 Hurricane Sandy caused significant damage and disruption to many communities in the U.S. northeast, where the majority of Lord & Taylor stores are located. As further described below, Hurricane Sandy had a significant negative impact on fourth quarter results.
 
Retail sales were $1,386.5 million for the 14-week period ended February 2, 2013, an increase of $86.9 million or 6.7% from $1,299.6 million for the 13-week period ended January 28, 2012. The 14th week contributed $50.0 million in retail sales.


Must ReadView All

Uzbekistan wants joint ventures with Hungarian textile firms

Textiles | On 20th Feb 2018

Uzbekistan wants joint ventures with Hungarian textile firms

Uzbekistan has offered Hungary to create joint ventures in the two...

Vietnam’s textile & garment exports up 10.68% in 2017

Textiles | On 20th Feb 2018

Vietnam’s textile & garment exports up 10.68% in 2017

Vietnam came very close to achieving its 2017 textile and garment...

From left: Tania Polonnowita Wettimuny, MD, Hellmann Sri Lanka; Bart de Vries, Global COO Air & Sea Hellmann; Deshamanya Mahesh Amalean, Chairman, MAS Holdings; & Shirendra Lawrence, COO, MAS Holdings

Textiles | On 20th Feb 2018

Hellmann and MAS form joint venture HMSC

Hellmann Worldwide Logistics and MAS Holdings have formed Hellmann...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Urmil Arya

Sushila International, a well established textile organisation established ...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search