Hudson's Bay's e-commerce up 73% in quarter

During the company's quarterly report, Hudson's Bay Co. announced that digital sales were up 73 percent to $62 million for its non-Saks (NYSE:SKS) properties.

The company, which acquired Lord & Taylor in 2012 and Saks in 2013 for $2.9 billion, brought in a total of $228 million in e-commerce sales, with Saks contributing $166 million, reported Internet Retailer.

"We remain on track with our integration of Saks and continue to gain traction on our strategic growth initiatives, especially at HBC Digital where we experienced substantial sales growth," said CEO Richard Baker. "We are well-positioned for the holiday shopping season with a value proposition underpinned by differentiated merchandising and superior customer service initiatives across all our banners. We remain confident in achieving our financial performance targets for Fiscal 2014."

Ahead of the holiday season, Saks Fifth Avenue announced in the spring that it had expanded its free shipping to all orders regardless of purchase total.

The retailer's websites did have some issues due to heavy traffic over Black Friday and Cyber Monday, but the company is positive the systems will work efficiently through the remainder of the holiday season.

The company announced back in April that it would invest heavily in e-commerce initiatives as a way to boost online sales. While investing in both countries, Baker said that money spent on the company's Canadian e-commerce has paid off better than online in the United States.

Overall, retail sales for Hudson's Bay were up 94.4 percent from the same quarter in 2013, largely due to the acquisition of Saks. Same store sales for the Department Store group increased 1.7 percent and same store sales for Saks Fifth Avenue increased 1 percent.

For more:
-See this Internet Retailer article
-See this Hudson's Bay Co. press release

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