February 23, 2017 / 9:34 PM / 5 months ago

BRIEF-Hudson's Bay Q4 consolidated comparable sales fall 1.2 pct

2 Min Read

Feb 23 (Reuters) - Hudson's Bay Co:

* Hudson's Bay company announces comparable sales results for the fourth quarter ended January 28, 2017

* Hudson's Bay Co says has finalized an initiative to reduce expenses by rationalizing its corporate functions and overhead across North America

* Hudson's Bay Co says annualized savings from initiative are expected to be approximately $75 million, majority of which are expected to be realized in 2017

* Hudson's Bay Co says in conjunction with initiative, company anticipates incurring one-time severance charges approaching $30 million

* Hudson's Bay Co says initial savings from co's ongoing comprehensive operational review are expected to offset some of pressures facing business in 2017

* Hudson's Bay Co says , in fiscal 2017, company expects to pay significantly more variable compensation to its associates when compared to fiscal 2016

* Hudson's Bay - on a constant currency basis, consolidated comparable sales decrease of 1.2 pct for quarter beginning Oct. 30, 2016 and ending Jan. 28, 2017 Source text for Eikon: Further company coverage:

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