The Toronto-based department store operator Hudson Bay benefited from the successful integration of U.S. luxury chain Saks Fifth Avenue posting net profit from continuing operations of $111-million in the fourth quarter ended Jan. 31 compared with $37-million, or 21¢ per share, in the same period a year ago.
Hudson Bay’s sales climbed 9.3% to $2.63-billion. Same-store sales, an important retailing bellwether, rose 3.2% overall at its chains, with a climb of 2.3% at The Bay and Lord & Taylor, 2.6% at Saks Fifth Avenue, and a strong 12.1% at the discount banner Saks Off Fifth.
More from NEWS
Louis Vuitton opens in Doha its first ever Airport Lounge
Louis Vuitton has opened its new lounge and restaurant at Hamad International Airport in Doha, Qatar. The lounge, which sits atop …
Norway is gaining ground as one of Europe’s most promising new luxury markets
With many Central and Eastern European luxury markets losing ground, Scandinavian markets have been gradually developing their luxury market potential. …
Valentino opens new flagship store in Paris at Avenue Montaigne
Valentino has given its Avenue Montaigne flagship a couture makeover. The store has moved up the prestigious thoroughfare to number …