CANADA: Hudson Bay Widens Q1 Loss
Canadian retail giant Hudson Bay Co on Monday posted a wider first quarter loss as it was hit by poor weather, concern over the SARS outbreak in Toronto and inventory writedowns due to the ending of the Martha Stewart line. The department store operator posted a net loss of C$34 million, or 53 cents a share, versus a net loss of C$6m, or 15 cents a share, in the year-ago period. Sales edged up to $1.53 billion from $1.5bn in 2002 as sales fell at its Bay banner.
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