Normalized EBITDA was $31.0 million in the 13-week period ended May 4, 2013 compared to $26.1 million in the 13-week period ended April 28, 2012, an increase of $4.9 million. The increase in Normalized EBITDA was primarily due to an increase in sales and gross profit, partially offset by higher SG&A.

Normalized net loss from continuing operations for the 13-week period ended May 4, 2013 was $14.3 million, a $9.0 million improvement from a loss of $23.3 million in the 13-week period ended April 28, 2012.

Normalized net loss per share was $0.12 in the first quarter compared to a normalized net loss of $0.22 per share in the 13-week period ended April 28, 2012.

Hudson's Bay