Digital, off-price lift Hudson's Bay Company

Hudson's Bay Company says online sales were particularly strong in the fourth quarter and contributed to the company's same-store sales growth of 11% for the period.



The Canadian firm and parent company of the Saks Fifth Avenue banners said that for the fourth quarter ended Jan. 31:



• Same-store sales grew 11%;

• The Department Store Group (DSG) had a same store sales increase of 4%;

• Saks Fifth Avenue Off 5th same-store sales increased 2%;

• Saks Fifth Avenue same-store sales decreased 1.2%;

• HBC Europe (GALERIA Kaufhof, Galeria INNO and Sportarena) same-store sales increased 0.4%;

• Digital sales increased 22.8%



“Our growth continued in the fourth quarter, as our team executed our strategies and focused on innovation around the world," said Jerry Storch, CEO, HBC. "Our retail banners are uniquely diversified across both geography and retail concepts. Online sales were especially strong, reflecting our focus on building superior digital capabilities and further integrating our brick-and-mortar and e-commerce businesses. As we continue to execute our all-channel strategy we are committed to providing our customers with an exceptional experience as they shop our banners whenever, wherever and however they choose.”



For the fiscal year ended Jan. 31, the company reported:



• Consolidated same-store sales growth of 12.1%;

• On a constant currency comparable basis, consolidated same-store sales increase of 2.5%;

• DSG same-store sales increase of 4.7%;

• Saks Fifth Avenue Off 5th same-store sales increase of 6.3%;

• Saks Fifth Avenue same-store sales decrease of 1%;

• HBC Europe same-store sales increase of 1.7%; and

• Digital sales increase of 23.2% on a constant currency comparable basis.



HBC’s portfolio today includes 10 banners, with more than 460 stores and 66,000 employees around the world.