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Hudson's Bay fiscal Q3 loss narrows YOY

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Hudson's Bay fiscal Q3 loss narrows YOY

Hudson's Bay Co. said its normalized net income for the fiscal third quarter ended Oct. 31 came to a loss of 8 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 9 cents per share.

The per-share loss decreased 13.5% year over year from 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$14.4 million, compared with a loss of C$16.3 million in the third quarter ended Nov. 1, 2014.

The normalized profit margin rose to negative 0.3% from negative 0.8% in the year-earlier period.

Total revenue grew 34.1% year over year to C$2.57 billion from C$1.91 billion, and total operating expenses grew 32.0% year over year to C$2.50 billion from C$1.89 billion.

Reported net income came to a loss of C$13.0 million, or a loss of 7 cents per share, compared to a loss of C$12.7 million, or a loss of 7 cents per share, in the third quarter ended Nov. 1, 2014.