However, earnings per share of the company were slightly below the analysts’ expectations, while its stock rebounded from previous losses to increase 2.1% to 23.99 Canadian dollars. Company stocks have taken too much of its current direction of the company’s move to extract the bigger amount of its real estate unit.
For the company’s third quarter that ended November 1, same-store sales in its department store group, including its Canadian chain Hudson’s Bay and U.S. chain Lord & Taylor, jumped 1.7%.
According to executives, the performance of Lord & Taylor’s indicated progress, but still retained to be a struggle. Comparable sales at its Saks Off 5th outlets rose 19.2%, while a 1% increase in Saks Fifth Avenue stores.
Online sales, on the other hand, reached 228 million Canadian dollars, including a combined 73% rise at Lord & Taylor and Hudson’s Bay.
Net loss from operations lessened to 13 million Canadian dollars, equivalent to 7 cents a share, compared to last year’s 126 million or 1.05 Canadian dollars per share.
Earnings from constant operations, excluding items like restructuring and acquisition costs were 2 cents a share, compared to the 7 cents last year. Retail sales almost doubled to 1.91 billion Canadian dollars.