Digital Sales Gain For Hudson’s Bay In Q4

Hudson’s Bay Co., for the fourth quarter ending January 30, reported consolidated comparable store sales growth of 1.8% on a constant currency basis or 11% not counting the effects of currency fluctuation. Digital sales increased 22.8% on a constant currency comparable basis.

For the quarter, the Hudson’s Bay department store group comps increased 4% while those at Saks Fifth Avenue decreased 1.2%. Comps at Saks Fifth Avenue Off 5th advanced 2% while those at HBC Europe increased 0.4%.

For the full year, comps gained 2.5% on a constant currency basis or 12.1% overall. For the full fiscal year, on a constant currency basis, overall comps in the division gained 4.7% while those at Saks Fifth Avenue decreased 1%. Saks Fifth Avenue Off 5th comps advanced 6.3% while HBC Europe comps increased 1.7%

For the fiscal year, digital sales increased 23.2% on a constant currency comparable basis.

Jerry Storch, Hudson’s Bay CEO, said, “Our growth continued in the fourth quarter, as our team executed our strategies and focused on innovation around the world. Our retail banners are uniquely diversified across both geography and retail concepts. Online sales were especially strong, reflecting our focus on building superior digital capabilities and further integrating our brick and mortar and e-commerce businesses. As we continue to execute our all-channel strategy, we are committed to providing our customers with an exceptional experience as they shop our banners whenever, wherever and however they choose.”

The company intends to announce earnings and full financial results for the quarter and year ended January 30 on April 4.