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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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Mattress Firm completes acquisition of Sleep Experts
Houston -- Mattress Firm Holding Corp. announced it has completed its acquisition of the outstanding partnership interests in Sleep Experts Partners.
With the acquisition, Mattress Firm expects to operate an additional 55 stores in the Dallas and Austin markets, two of Mattress Firm’s core markets.
Mattress Firm operates 1,400 stores across 33 states.