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."
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.
Textiles | On 19th Jun 2018
The requirement of polyester filament yarn (PFY) is increasing as it...
Textiles | On 19th Jun 2018
The Sustainable Apparel Coalition (SAC) will release this year a...
Apparel/Garments | On 19th Jun 2018
Noon, the $1 billion e-commerce venture backed by Dubai businessman...
Navigating through catalogues is a bit hasslesome
Textile industry, India
The event should be organised every year
‘There is huge demand in the Indian lingerie market for non-wired styles.’
Colorjet is among the fastest-growing wide format digital inkjet print...
<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...
Established in 1956 with a small beginning, Embee today manufactures a...
Nature Works LLC
Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...
Iago Castro Asensio
RCfil Distribuciones S.L.
Iago Castro Asensio, International Business Manager of RCfil...
Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...
Threads & Shirts
Threads & Shirts is a freshly-tailored concept providing men/women a...
Occasions Elegance Wear
It is believed that by early 19th century, Varanasi weavers had moved away ...
Bani Batra’s couture wedding collection is inspired by traditional Indian...