Hudson's Bay Co. (HBC), the Canadian-based group that acquired Galeria Kaufhof from the Metro AG group for €2.82 billion including debt last June, has reported a sales increase of 59.4 percent to 3.3 billion Canadian dollars (€2,288.8m-$2,576.0m) in the first quarter of 2016, as compared to the same period of the previous year. The sales increase was mostly due to the integration of HBC Europe, parent company of Galeria Kaufhof, Galeria Inno and Sportarena, as well as Gilt, an online shopping platform that also has a concept store in New York. HBC's sales grew by 4.4 percent on a same-store basis in the quarter. Currency-adjusted sales went down by 1 percent. Extraordinary charges led the group to book a net loss of Can$97 million (€67.3m-$75.7m), double the level of a year ago.

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