Home / Knowledge / News / Apparel/Garments / Hudson's Bay Company online sales zooms 63% in FY'13
Hudson's Bay Company online sales zooms 63% in FY'13
15
Apr '13
Hudson's Bay Company reported its results for the 14-week and 53-week periods ended February 2, 2013. The 14-week period was characterized by strong same-store sales growth at Hudson's Bay in Canada and early progress on cost reduction initiatives, offset in part by the previously announced impact of Hurricane Sandy on Lord & Taylor in the United States.
 
Highlights (14-week and 53-week periods ended February 2, 2013)
-Consolidated sales increased 6.7% for the 14-week period and 5.9% for the 53-week period.
 Same store sales:
-Consolidated same store sales increased 2.1% for the comparable 13-week period and increased 4.0% for the comparable 52-week period.
- Hudson's Bay stores grew 6.1% for the comparable 13-week period and grew 5.4% for the comparable 52-week period.
- Lord & Taylor stores declined 2.9% on a U.S. dollar basis for the comparable 13-week period due primarily to the impact of Hurricane Sandy and grew 2.2% on a U.S. dollar basis for the comparable 52-week period.
-Online sales grew 57.0% for the comparable 13-week period and 63.0% for the comparable 52-week period.
- $8 million in annual cost savings initiatives were delivered in the fourth quarter.
- Normalized EBITDA was $177.1 million or 12.8% of sales for the fourth quarter and $310.0 million or 7.6% of sales for the full year.
- Normalized net earnings were $0.86 per share for the 14-week period compared to $0.91 per share for the 13-week period the previous year. Normalized net earnings for the 53-week period were $0.71 per share compared to $0.65 per share for the 52-week period ended January 28, 2012.
- A dividend of $0.09375 per common share was declared, payable on April 15, 2013 to shareholders of record on March 28, 2013.
 
 
Financial Results
With the exception of same store sales comparisons or unless otherwise noted, all comparative figures below and in the "Highlights" section and throughout this news release are for the 14-week (or "fourth quarter") and 53-week periods (or "Fiscal 2012") ended February 2, 2013 compared to the 13- and 52-week periods ended January 28, 2012. 
 
During the week commencing October 28, 2012 Hurricane Sandy caused significant damage and disruption to many communities in the U.S. northeast, where the majority of Lord & Taylor stores are located. As further described below, Hurricane Sandy had a significant negative impact on fourth quarter results.
 
Retail sales were $1,386.5 million for the 14-week period ended February 2, 2013, an increase of $86.9 million or 6.7% from $1,299.6 million for the 13-week period ended January 28, 2012. The 14th week contributed $50.0 million in retail sales.


Must ReadView All

Pic: Shutterstock

Textiles | On 27th Feb 2020

Australia willing to consider FTA with India on RCEP lines

Australia is willing to consider a bilateral free trade agreement...

Pic: Shutterstock

Apparel/Garments | On 27th Feb 2020

Hun Sen asks PRC garment investors not to leave Cambodia

Prime Minister Hun Sen recently again told Chinese garment sector...

Pic: B.Zhou / Shutterstock.com

Retail | On 27th Feb 2020

Retail brands restrict China operations amid COVID-19

The outbreak of COVID-19 is disrupting business dynamics in China....

Interviews View All

Varinder Singh Jawanda, Trendy Bharat

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Sunil Rathore, Lacoste India

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Marazban F Velati, Sutlej Textiles & Industries limited

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Umang Banthia,

Umang Banthia

Established in 2005, SL Banthia Textiles manufactures coated fabrics....

Saad Khaled Bari,

Saad Khaled Bari

Benetex Industries is a public ltd company established in year 1992 to...

Urmil Arya,

Urmil Arya

Sushila International, a well established textile organisation established ...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Sven Ghyselinck, Devan Chemical

Sven Ghyselinck
Devan Chemical

Headquartered in Belgium and with offices in the United Kingdom, Portugal...

Georg Reinhold, Trützschler  Nonwovens & Man-Made Fibers

Georg Reinhold
Trützschler Nonwovens & Man-Made Fibers

Trützschler Nonwovens & Man-Made Fibers, a part of the Trützschler Group,...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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

Leave your Comments


February 2020

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


Advanced Search