THE THINGS THAT DETERMINE RETAIL SUCCESS OR FAILURE.

of $243 million in the period ended Oct. 28, or $1.33 per share, compared with $125 million (69 cents) in the prior year. Analysts were expecting a net loss of $138.2 million, according to mean estimates from Thomson Reuters. Retail sales fell to $3.16 billion from $3.3 billion in the third quarter of 2016.

Comparable or same-store sales, a key sales measure that strips out the effects of square footage changes, fell 5.1 per cent, and fell 3.2 per cent on a constant currency basis. Management said same-store sales rose Home Outfitters, fell 3.7 per cent.

At the same time, comparable sales slid three per cent at HBC Europe and by 7.6 per cent at HBC’s off-price division, which includes Saks Off Fifth.

As a backdrop to the weakening performance of its retail properties, HBC has been under intense pressure this year.

Activist investor Jonathan Litt of the U.S. hedge fund Land & Buildings repeatedly urged the company to realize the value of its real estate holdings by selling its HBC took pains in its quarterly report to note that its Hudson’s Bay stores in Canada performed well.