Hudson’s Bay Company (HBC) 2Q18 Results: A Retrenchment to North America Helps Soften Comp Decline

Key Points

• HBC reported fiscal 2Q18 revenues of C$2,160 million, down 2.0% year over year. Adjusted EPS was $0.53, lower than the consensus estimate of $0.57 and even with the year-ago quarter.
• Total comparable sales declined by 0.4%.
• The company did not offer 2Q18 or full year guidance, nor did the company offer guidance on its 1Q call.