Hudson's Bay Releases Another Ugly Earnings Report
The first quarter of 2017 was weak across the board for U.S. department stores. Multinational department-store giant Hudson's Bay (TSX: HBC) was caught up in the carnage. Comparable store sales fell 2.9%, and the company posted a big quarterly loss.
Sales trends improved at many of Hudson Bay's chains during the second quarter. However, gross margin plunged, causing the company to report another big loss. These weak results highlight how Hudson's Bay -- and especially its Lord & Taylor chain -- cannot compete effectively with its top upscale rival, Nordstrom (NYSE: JWN).
In the first quarter, Hudson's Bay reported flat comp sales for its European operations but a sharp comp sales decline in North America. In constant currency, comparable-store sales fell 2.9% on a companywide basis.
Source: Fool.com
Nordstrom Inc. Stock
Currently there is a rather negative sentiment for Nordstrom Inc. with 4 Buy predictions and 10 Sell predictions..
This results in a negative potential of -24.23% based on a current price of 19.8 € and a target price of 15 € for the stock.
