HudsonS Bay Company Reports Consolidated Comparable Sales Results for the Nine Week Period Ended December 31, 2016; Provides Earnings Guidance for 2016
For 2016, the company expects sales of CAD 14.4 billion to CAD 14.6 billion, adjusted EBITDAR of CAD 1,340 million to CAD 1,390 million and adjusted EBITDA of CAD 615 million to CAD 665 million. The Company now expects total capital investments, net of landlord incentives, to be between CAD 660 million and CAD 710 million, which is approximately 4.5%-4.9% of the midpoint of the Sales outlook. Included in these amounts is the capital expenditure associated with the recent acquisitions of the GALERIA Kaufhof, Galeria INNO, Sportarena and Gilt banners.