Home / Knowledge / News / Hudson's Bay Q1 FY'13 sales up 4.2%
Hudson's Bay Q1 FY'13 sales up 4.2%
13
Jun '13
Hudson's Bay Company reported its results for the 13-week period ended May 4, 2013 (the "first quarter"). The first quarter was characterized by strong same-store sales growth at Hudson's Bay, partially offset by a low single digit same-store sales decline at Lord & Taylor. By managing its gross profit rate and operating expenses, the Company delivered solid Normalized EBITDA growth.

First Quarter Highlights (13-week period ended May 4, 2013)

- Consolidated sales increased 4.2% to $884.0 million compared to the first quarter of 2012.
- Same store sales:
  Consolidated same store sales grew 4.0%, or 3.2% on a constant currency basis.
  Hudson's Bay same store sales grew 7.6%.
  Lord & Taylor same store sales declined 1.4% on a U.S. dollar basis.

- E-commerce sales were $31.1 million, an increase of 32.8% compared to the first quarter of 2012.
- Normalized EBITDA was $31.0 million, an increase of $4.9 million compared to the first quarter of 2012.
- Normalized net loss was $0.12 per share compared to a loss of $0.22 per share in the first quarter of 2012.
- A dividend of $0.09375 per common share was declared, payable on July 15, 2013 to shareholders of record on June 28, 2013.

"We are pleased with our first quarter performance," stated Richard Baker, Hudson's Bay Company's Governor and Chief Executive Officer. "Our strong sales growth can be attributed to several factors, including improvements in store productivity, increased e-commerce sales, and our partnership with Topshop/Topman. These strategic initiatives drove gains at Hudson's Bay, which continues to outperform its competitors. At Lord & Taylor, our sales performance was impacted by unfavourable year over year weather patterns."

Financial Results

Retail sales were $884.0 million for the 13-week period ended May 4, 2013, an increase of $35.8 million or 4.2% from $848.2 million for the 13-week period ended April 28, 2012. Consolidated same store sales grew 4.0% in the first quarter, or 3.2% on a constant currency basis. Hudson's Bay same store stores grew 7.6%, and same store sales at Lord & Taylor declined 1.4% on a U.S. dollar basis.

Sales at Hudson's Bay were driven by strong performance of men's apparel, ladies' shoes, cosmetics, handbags, accessories and certain home categories, the continued growth of e-commerce sales and our five Topshop/Topman stores.

Sales at Lord & Taylor were impacted by lower customer traffic due to unfavourable weather trends compared to the first quarter of 2012, with strength in men's apparel, handbags, accessories and cosmetics offset by underperformance of ladies' apparel and shoes. Reflecting the Company's strategic focus on growing its e-commerce channel, online sales contributed strongly to sales growth in the quarter, rising 32.8% to $31.1 million.


Must ReadView All

Building of Ethiopian textile unit by Chinese firm starts

Textiles | On 22nd Jan 2018

Building of Ethiopian textile unit by Chinese firm starts

Chinese firm Wuxi No. 1 Cotton Mill will build a textile plant in...

JD.com to invest $3.1 bn to revive industry in NE China

Apparel/Garments | On 22nd Jan 2018

JD.com to invest $3.1 bn to revive industry in NE China

To back the government’s campaign to revitalize the traditional...

SIMA makes pre-budget recommendations to Indian govt

Textiles | On 22nd Jan 2018

SIMA makes pre-budget recommendations to Indian govt

Exemption of 5 per cent goods and services tax (GST) on raw cotton,...

Interviews View All

Top executives
Textile & apparel bodies

The decision is transformational

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Top executives
Textile industry, India

The event should be organised every year

Ravindra Jain, Ashish Baid

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

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Madhu Jain
Madhu Jain

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

January 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
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

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
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

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
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

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
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


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