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BRIEF-Hudson's Bay reports holiday sales results and provides update on fiscal 2016 outlook
January 9, 2017 / 10:20 PM / 8 months ago

BRIEF-Hudson's Bay reports holiday sales results and provides update on fiscal 2016 outlook

Jan 9 (Reuters) - Hudson’s Bay Co -

* Hudson’s Bay company reports holiday sales results and provides update on fiscal 2016 outlook

* For nine week period beginning October 30, 2016 and ending December 31, 2016 on constant currency basis, consolidated comp sales decrease of 0.7%

* Now expects 2016 total capital investments, net of landlord incentives, to be between $660 million and $710 million

* Sees fiscal 2016 sales between c$14.4 billion to c$14.6 billion

* Hudson’s Bay co sees for fiscal 2016, adjusted ebitda c$615 to c$665 million

* FY2016 revenue view c$10.95 billion -- Thomson Reuters I/B/E/S

* Retail environment remained challenging in U.S. and Europe and significant promotional activity during holiday period had negative impact on margins

* Margin pressure compounded by declining value of euro compared with canadian dollar which impacts translated earnings from hbc europe

* Given sales results for holiday,lower than expected gross margins q4 to date, reducing 2016 sales, adjusted ebitdar, adjusted ebitda outlooks

* Now expects fiscal 2016 total capital investments, net of landlord incentives, to be between $660 million and $710 million Source text for Eikon: Further company coverage:

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