Hudson’s Bay Co. reports Q4 revenue slips lower, comparable store sales fall

Companies in this story: (TSX:HBC) The Canadian Press TORONTO — Hudson’s Bay Co. reported its fourth-quarter revenue slipped to $2.89 billion, down from $3.05 billion a year earlier when the quarter included an extra week.Excluding the extra week, revenue in the quarter ended Feb. 2 was down $47 million or 1.6 per cent compared with a year ago.Overall comparable store sales for the quarter were down 1.4 per cent, while they increased 3.9 per at HBC’s Saks Fifth Avenue stores and fell 5.2 per cent at its Hudson’s Bay, Lord & Taylor and Home Outfitters stores. Saks Off Fifth comparable sales declined 2.1 per cent.HBC reported a net profit of $286 million or $1.20 per share for the quarter, up from $84 million or 39 cents per share in the same quarter last year.However, the retailer said it lost $226 million or 95 cents per share from its continuing operations compared with a profit of $180 million or 84 cents per share a year ago.HBC announced in February it would shutter its Home Outfitters business and was eyeing the closure of up to 20 of its Saks Off Fifth locations in a bid to increase profitability. read more

Shiv Chanderpaul to receive honorary doctorate from UWI

Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)RelatedWell done Shiv …CWI salutes one of the most outstanding batsmen in West Indies historyOctober 26, 2018In “latest news”Guyanese cricket hero Shivnarine Chanderpaul honoured by UWIMarch 8, 2017In “latest news”IAC congratulates Chanderpaul on receipt of Honorary DoctorateOctober 26, 2018In “latest news” Shivnarine Chanderpaul to receive honorary doctorate from the Cave Hill campus of the University of the West Indies in OctoberShivnarine Chanderpaul, the second most prolific Test cricketer in Windies history, is to be awarded an honorary doctorate from the University of the West Indies’ (UWI) St. Augustine campus later this year. The university made the announcement Tuesday that the 43-year-old batsman will be bestowed with the Honorary Doctor of Laws during the campus graduation ceremonies beginning October 25.During a Test career that spanned two decades (1994-2015), Chanderpaul played a record 164 Tests for the Windies scoring 11,867 runs at an average of 51.37. During that time he scored 30 Test centuries and 66 fifties and was a stabilizing force in the Windies middle order.He was also prolific in ODIs, amassing 8,778 runs at an average of 41.60 in 268 matches during which he scored 11 centuries and 59 half-centuries.Chanderpaul announced his retirement from international cricket in January 2016. He was 41 years old and had not played for the Windies since May of the previous year.Windies selectors said he was not considered for selection following a poor run of form during which he averaged 15.33. This prompted Windies great Brian Lara to express his disappointment at the way in which Chanderpaul was dropped.“I was very disappointed that Shiv was not allowed a couple of more Test matches, not necessarily to break the record but to have a proper send-off. Something I think he is very disappointed and unfortunately that did not happen,” Lara said.“That guy with the most Test matches for the West Indies, playing for over 20 years, I don’t think people in the West Indies understand exactly his contribution.” (SportsMax) read more