Hudson’s Bay Company (HBC) 3Q18 Results: Revenues Up; Completed Real Estate Deal and European Transaction

Executive Summary

• HBC reported fiscal 3Q18 revenues of C$2.2 billion, up 5.6% from the year-ago quarter of C$2.1 billion.
• Total comparable sales increased 2.9%. Adjusting for the impact of the shift of Hudson’s Bay’s “Bay Days”promotional event into the third quarter from the fourth quarter, comparable sales increased by 1.2%.
• The company did not offer 2Q18 or full year guidance, nor did the company offer guidance on its 3Q call.