Home / Knowledge / News / Apparel/Garments / 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

Oliver Dowden. Pic: GOV.UK

Retail | On 4th Dec 2020

UK events industry likely to be back to normal by Easter

Oliver Dowden, UK secretary of state for the department of digital,...

Pic: Shutterstock

Textiles | On 4th Dec 2020

US bans cotton imports from Chinese producer XPCC

The US Customs and Border Protection (CBP) agency recently banned...

Pic: Shutterstock

Apparel/Garments | On 4th Dec 2020

PVH Corp Q3 FY20: sales $2.11 bn; net income $70 mn

PVH Corp, a US-based global apparel companies, has reported 18 per...

Interviews View All

Ghanshyam Ghoghari, Kimora Fashion

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Textile Industry, Head honchos

Textile Industry
Head honchos

Industry could be looking at 10%-15% job losses

Textile Industry, Head honchos

Textile Industry
Head honchos

Consumer sentiment will be conservative after lockdown

Jash Choraria,

Jash Choraria

Established in 2015 by <b>Jash Choraria</b>, Unifynd is a Mumbai-based...

Tom Adeyoola,

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Carmen Makover,

Carmen Makover

Leading the digital textile printing industry, Israel-based Kornit...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

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

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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


December 2020

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


Advanced Search