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

L-R Manish Singhai, COO, Peter England; Vinai Kumar Saxena, chairman, KVIC; Ashish Dikshit, business head, ABFRL and Anshu Sinha, CEO, KVIC while signing agreement. Courtesy: ABFRL

Textiles | On 24th May 2017

Aditya Birla & KVIC enter into a strategic partnership

Aditya Birla Fashion and Retail Ltd (ABFRL) and Khadi and Village...

Courtesy: Jabong

Apparel/Garments | On 24th May 2017

Jabong Mood Store redefines online shopping in India

Jabong, India's leading online fashion retailer, has launched the...

Textiles | On 24th May 2017

Starlinger unveils FX 8.0 circular loom for fabric making

Starlinger, a leading supplier of machinery for woven plastic...

Interviews View All

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Paolo Ocleppo
Sandvik Hyperion

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

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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