Canadian department store operator Hudson’s Bay Co reported a bigger third-quarter loss on Tuesday, hit by higher discounts at luxury chain Sakes Fifth Avenue and weak sales at its namesake stores. The company has been trying to fend off fierce competition from e-commerce retailers including Amazon.com Inc as well as from other department stores Macy’s and Nordstrom Inc. Hudson’s Bay has been shutting stores and divesting assets, including its Lord + Taylor department store business, to shore up finances and focus on its luxury department store chain Saks Fifth Avenue and Hudson’s Bay in Canada. …read more
Source:: Yahoo Finance
