Hudson's Bay Company announced comparable sales results for the third quarter ended October 29, 2016. For the quarter ended October 29, 2016, on a constant currency basis, consolidated comparable sales decrease of 3.6% following last year's increase of 2.0%. Excluding Gilt, consolidated comparable sales decreased 3.2% on a constant currency basis.

For the fiscal year 2016, the company expects sales to be CAD 14.5 to CAD 14.9 billion, Adjusted EBITDAR TO be CAD 1,440 to CAD 1,525 million, and adjusted EBITDA to be CAD 700 to CAD 785 million. The company is lowering its capital expenditure forecast for fiscal 2016, and now expects total capital investments, net of landlord incentives, to be between CAD 700 million and CAD 750 million, which is approximately 4.8%-5.1% of the midpoint of the sales outlook. Included in these amounts is the capital expenditure associated with the Company's recent acquisitions: HBC Europe and Gilt Groupe.