HBC announces positive same store sales results

By

Jennifer Braun

Published
Feb 23, 2016

The Hudson's Bay Company announced on Tuesday positive same store sales results for its fourth quarter and fiscal year, which was characterized by a remarkable increase in digital sales. 
 
The department store retailer saw consolidated same store sales growth of 11 percent in its fourth quarter and 12.1 percent for its fiscal year, which ended on January 31, 2016.

 
On a constant currency comparable basis however, consolidated same store sales were up 1.8 percent in the fourth quarter and 2.5 percent at the end of the fiscal year.
 
Though Saks Fifth Avenue same store sales were down 1.2 percent, sales at its discount counterpart, Saks Fifth Avenue OFF 5TH, saw an increase of 2 percent in its fourth quarter.

The fiscal year sales were similar with Saks Fifth Avenue same store sales down 1 percent and Saks Fifth Avenue OFF 5TH same store sales up 6.3 percent.
 
Its department Store Group (“DSG”) saw same store sales increase by 4 percent and 4.7 percent for the fiscal year.
 
Finally, digital sales saw a remarkable increase of 23.2 percent on a constant currency comparable basis for the fiscal year and 22.8 percent for the fourth quarter.
 
HBC intends to announce full financial results for the quarter and year ended January 31, 2016 after the market close on April 4, 2016.