Home / Knowledge / News / Apparel/Garments / Hudson's Bay Q3 FY'13 revenues up 5.8%
Hudson's Bay Q3 FY'13 revenues up 5.8%
12
Dec '13
Hudson's Bay Company reported its results for the 13-week period ended November 2, 2013 (the "third quarter"). The third quarter was characterized by strong same-store sales growth at Hudson's Bay and online and a return to positive same-store sales growth at Lord & Taylor.

Third Quarter Highlights (13-week period ended November 2, 2013)

-Consolidated sales of $984.1 million, a 5.8% increase compared to the third quarter of 2012.

-Same store sales:

-Consolidated same store sales grew 5.7%, or 3.8% on a constant currency basis.

-Hudson's Bay same store sales grew 6.4%.

-Lord & Taylor same store sales grew 1.6% on a U.S. dollar basis.

-E-commerce sales were $48.9 million, an increase of 58.3% compared to the third quarter of 2012.

-Normalized EBITDA was $64.3 million, an increase of $16.4 million compared to the third quarter of 2012.

-Normalized net earnings were $0.07 per share, compared to $0.00 per share in the third quarter of 2012.

-Opened both a full line Lord & Taylor store in Boca Raton, Florida and five new Topshop/Topman stores across Canada, as well as completed significant renovations at six locations across North America.

13 week period ended November 2, 2013

All comparative figures below and in the "Highlights" section and are for the 13-week period ended November 2, 2013 compared to the 13-week period ended October 27, 2012.

Retail sales were $984.1 million for the 13-week period ended November 2, 2013, an increase of $53.7 million, or 5.8%, from $930.4 million for the 13-week period ended October 27, 2012. Consolidated same store sales increased by 5.7% (3.8% on a constant currency basis), with an increase of 6.4% at Hudson's Bay and an increase of 1.6% on a U.S. dollar basis at Lord & Taylor.

Sales at Hudson's Bay were driven by strong performance of ladies' and men's apparel, ladies' shoes, handbags and accessories, as well as Topshop/Topman stores. Sales growth was particularly evident at those stores and store areas that have received recent renovations.

For example, at the Vancouver flagship store that received a major renovation in Fiscal 2012, sales were up over 30%. Sales at Lord & Taylor were driven by relative strength in men's apparel and shoes and improved performance in ladies' apparel and handbags. E-commerce sales grew to $48.9 million, an increase of 58.3% compared to the third quarter of Fiscal 2012, reflecting the Company's strategic focus on growing this channel.

Gross profit was $395.9 million, or 40.2% of retail sales, for the 13-week period ended November 2, 2013, compared to $362.7 million, or 39.0% of retail sales, for the 13-week period ended October 27, 2012. Gross profit in the quarter ended October 27, 2012 was impacted by a $9.3 million charge from higher than expected book-to-physical inventory adjustments. As a result, the Company implemented inventory control processes and corrective actions to ensure this would not be an ongoing issue.

Click here to read full results

Hudson's Bay

Must ReadView All

Apparel/Garments | On 24th Mar 2017

UK online retail sales up 15% in February 2017

Online retail sales in UK have grown by 15 per cent year-on-year in...

Courtesy: Messe Frankfurt

Textiles | On 24th Mar 2017

Over 3341 exhibitors participate in Intertextile Shanghai

More than 3,341 exhibitors from 26 countries and regions participated ...

Apparel/Garments | On 24th Mar 2017

Tiruppur garment cluster hopeful of meeting export target

The Tirupur garment cluster is hopeful of meeting its target of...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

news category


Related Categories:
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search