Home / Knowledge / News / Apparel/Garments / Q3FY17 net sales soar 28.6% at Hudson's Bay Group
Q3FY17 net sales soar 28.6% at Hudson's Bay Group
09
Dec '16
For the thirteen week period ended October 29, 2016, net sales at department store group Hudson's Bay, soared 28.6 per cent year on year to $3,300 million, driven by acquisitions of HBC Europe and Gilt, and offset by a decline in comparable sales of 4.0 per cent. Of overall revenue, digital sales drove up 73.0 per cent over the fiscal ago quarter.

For the third quarter of fiscal 2017, adjusted EBITDA fell steeply to $89 million, down $81 million, compared to $170 million in the prior fiscal's same quarter.

Finance costs for the reporting quarter were $48 million as against $29 million in the third quarter of previous fiscal, of which, $8 million was due to the change in non-cash finance income generated from mark to market adjustments associated with the valuation of outstanding common share purchase warrants, and $6 million was related to higher interest expense.

The group reported a net loss at $125 million in the quarter under review vis-à-vis earnings of $7 million in the third quarter of fiscal 2016.

According to Hudson's Bay, third quarter of fiscal 2016 earnings, included a net gain of $91 million related to the dilution gains from investments in the Joint Ventures, compared to $3 million in the current fiscal. (AR)

Fibre2Fashion News Desk – India


Interviews View All

Priyanka, Studio Priyanka Rajiv

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Binoy Ravjani, Hero's Fashion

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Viral Desai, Zenitex Mill Pvt Ltd

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Alphonse Reddy,

Alphonse Reddy

Bangalore-based Sunday designs and makes mattresses and accessories that...

Erwin Devloo,

Erwin Devloo

Picanol develops, produces and markets high-tech weaving machines, based...

Fan Liyuan,

Fan Liyuan

Chinese company Jiangsu Yingyang Nonwoven Machinery, established in 1993,...

Kai Poehler, Voith Paper GmbH & Co. KG

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

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,...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

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

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

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

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

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

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search