HBC said the decrease came from expiration of equity commitment forwards related to financing the Saks acquisition that resulted in $49 million for mark-to-market charges in the second quarter of Fiscal 2013.
Canadian fashion retailer Hudson's Bay Company (HBC) reported a 35% year-on-year EBITDA surge for the second fiscal quarter or 13-week period ended #
It added, “As well as a net decrease of $18 million in non-cash charges for mark-to-market of outstanding warrants. These cost reductions were partially offset by $24 million of incremental interest expense from debt financing for the acquisition of Saks.”
For the full fiscal year, HBC expects total sales of between $7.8 billion and $8.1 billion, a low-to-mid single-digit consolidated same store sales growth calculated on a local currency basis, driven in part by strong digital sales growth.
It forecasts normalized EBITDA of $580 million to $620 million and capital investments of $380 million to $420 million, net of landlord incentives. (AR)
Fibre2fashion News Desk - India
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