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Hudson’s Bay Q4 profit falls on expenses; to invest in digital initiatives
Toronto -- Hudson’s Bay Company’s net profit for the fourth quarter fell to $29.1 million from $86.8 million in the year ago period, amid higher expenses.
The company’s sales for the quarter, ended Feb.1, rose 74% to $2.41 billion, largely driven by the inclusion of Saks, which it acquired in November 2013. Same-store sales rose 6.6%, with an increase of 5.2% at its namesake stores, a 3.1% increase at Saks, and a decline of 1.3% at Lord & Taylor.
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Retailers and CPG companies win top EPA awards
Best Buy, Staples, Home Depot, 3M and Colgate-Palmolive were among the many retailer and CPG companies to be recognized by the U.S. Environmental Protection Agency and the U.S. Department of Energy as recipients of the 2014 Energy Star Partner of the Year Award.
A total of 127 companies were received the Energy Star Partner of the Year distinction and were selected from a total of 16,000 Energy Start partners overall in the areas of manufacturing, retailing, public schools, hospitals, real estate companies and home builders.