Retailer HBC reports $243M third-quarter loss

TORONTO — Hudson’s Bay Co. lost $243 million in its latest quarter as sales fell compared with a year ago.

The retailer (TSX: HBC) says the loss amounted to $1.33 per diluted share for the 13 weeks ended Oct. 28 compared with a loss of $125 million or 69 cents per diluted share a year ago.

Retail sales totalled $3.16 billion, down from $3.30 billion in the same quarter last year. The company says that while its Saks Fifth Avenue and Hudson’s Bay businesses performed well, its overall thirdquarter results did not meet expectations.