By  on December 6, 2017

Hudson’s Bay Company posted a third quarter net loss of 243 million Canadian dollars, or $191.8 million, due to lower gross margins, declining sales, and higher costs, compared to a net loss of 125 million Canadian dollars in the year ago period.The company also cited depreciation and amortization costs and a lower income tax benefit, in the last quarter ended Oct. 28.

Third quarter retail sales fell 4.2 percent to 3.2 billion Canadian dollars while comparable sales on a constant currency basis declined by 3.2 percent.

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