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More on Hudson's Bay Q4 results

Apr. 03, 2019 10:01 AM ETHudson's Bay Company (HBAYF) StockBy: Pranav Ghumatkar, SA News Editor
  • Hudson's Bay (OTCPK:HBAYF +0.4%) reports Q4 revenue decrease of 6.2% Y/Y to C$2.86B.
  • Saks Fifth Avenue comparable sales up 3.9%; delivering an industry-leading 2-year stacked comp of 7% while achieving the next step in the NYC flagship renovation.
  • DSG comparable sales decreased 5.2% & Saks OFF 5TH comparable sales also declined 2.1%.
  • For HBC, gross margin declined 200 bps to 36.7%, which was driven by closing 8 stores, including the Lord & Taylor New York City flagship and an inventory provision for the pending closure of Home Outfitters.
  • The company delivered a 30% increase to C$338M in 2018 Adj. EBITDA, with every business unit improving profitability Y/Y.
  • Operating cash flow increased 63% Y/Y to C$460M.
  • During Q4, HBC’s store count declined to 342 from 350.
  • Capital investments, net of landlord incentives, were $126M.
  • 2019 Outlook: Total capital investments, net of landlord incentives of $300-325M.
  • Previously: Hudson's Bay reports Q4 results (Apr. 03 2019)

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