Hudson's Bay Company Reports First Quarter 2013 Financial Results; Declares Quarterly Dividend

Source

Strong Performance Led by Increasing Sales at Hudson's Bay

First Quarter Highlights (13-week period ended May 4, 2013)

• Consolidated sales increased 4.2% to $884.0 million compared to the first quarter of 2012.
• Same store sales:

• Consolidated same store sales grew 4.0%, or 3.2% on a constant currency basis.
• Hudson's Bay same store sales grew 7.6%.
• Lord & Taylor same store sales declined 1.4% on a U.S. dollar basis.

• E-commerce sales were $31.1 million, an increase of 32.8% compared to the first quarter of 2012.
• Normalized EBITDA was $31.0 million, an increase of $4.9 million compared to the first quarter of 2012.
• Normalized net loss was $0.12 per share compared to a loss of $0.22 per share in the first quarter of 2012.
• A dividend of $0.09375 per common share was declared, payable on July 15, 2013 to shareholders of record on June 28, 2013.

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