Stocks in play: HBC

Second-quarter sales were driven by accelerated growth in digital, continued positive comp at Saks Fifth Avenue, sequential progress at Hudson’s Bay and the second consecutive quarter of increased comparable sales at Saks OFF 5TH. Gross margin declined year-over-year. Revenues totaled $1.9 billion, with comparable sales down 0.4% including a 19% year-over-year increase in digital sales. Net loss from continuing operations of $462 million, includes $150 million to write-down the value of deferred tax assets. HBC shares T.HBC are trading down $0.12 at $10.08.