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Same-store, e-commerce sales help HBC swing to profit
Toronto – Hudson’s Bay Company (HBC) reported net earnings of $3.9 million in the second quarter of fiscal 2013, compared to a net loss of $2 million in the second quarter of the previous fiscal year.
In addition, HBC reported consolidated sales of $947.7 million, up 3.9% from $911.9 million. The retailer credited consolidated same-store sales growth of 3.5% and e-commerce sales growth of 56.1% to $37.3 million as helping to drive its healthy overall performance.
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August retail sales disappoint with tepid 0.1% increase from July
Washington, D.C. -- Retail sales increased in the month of August but came in at a much slower pace than anticipated.
According to the National Retail Federation, August retail sales (excluding automobiles, gas stations and restaurants) increased 0.1% seasonally adjusted from last month, and increased 3.9% unadjusted year-over-year.