Hudson's Bay Company Reports Retail Same Store Sales Increase for Nine and Forty-Eight Week Periods Ended Dec 29, 2012

Hudson's Bay Company Reports Retail Same Store Sales Increase for Nine and
Forty-Eight Week Periods Ended Dec 29, 2012

TORONTO, Jan. 3, 2013 (GLOBE NEWSWIRE) -- Hudson's Bay Company ("HBC" or the
"Company") (TSX:HBC) today reported unaudited consolidated same store sales
increase of 1.9%  for the 9-week period ended December 29, 2012. Adjusting for
the previously disclosed US $20 million impact of Hurricane Sandy,
consolidated same store sales would have increased 3.7% for the 9-week period
ended December 29, 2012. For the 48-week period ended December 29, 2012
consolidated same store sales increased 4.0% (4.6% adjusted for the impact of
Hurricane Sandy).

Nine Week Period Ended December 29, 2012 Compared to the Nine Week Period
Ended December 31, 2011

Retail sales increased by $25.0 million, or 2.3% from $1,084.0 million for the
9-week period ended December 31, 2011 to $1,109.0 million for the 9-week
period ended December 29, 2012. Over the same period consolidated same store
sales increased by 1.9%, with an increase of 6.7% at Hudson's Bay and a
decrease of 4.4% (US dollars) at Lord & Taylor. Adjusted for the impact of
Hurricane Sandy, Lord & Taylor same store sales would have increased 0.8% for
the period.

Retail sales growth was driven by continued strength in men's apparel,
handbags, fine jewellery, watches, Topshop branded apparel, and
cosmetics/fragrances. Sales from the Company's Omni-channel initiatives grew
59.3% from $30.2 million to $48.1 million for the 9-week period ended December
29, 2012, excluding in-store returns.

Forty-Eight Week Period Ended December 29, 2012 Compared to the Forty-Eight
Week Period Ended December 31, 2011

Retail sales increased by $165.6 million, or 4.6% from $3,634.0 million for
the 48-week period ended December 31, 2011 to $3,799.6 million for the 48-week
period ended December 29, 2012. Over the same period consolidated same store
sales increased by 4.0%, with an increase of 5.5% at Hudson's Bay and 2.0% (US
dollars) at Lord & Taylor. Consolidated same store sales were impacted by
positive 0.4% due to the foreign currency translation of the Lord & Taylor
results and offset by lower sales at Home Outfitters. In addition, Lord &
Taylor opened two new stores in Ridge Hill, NY and Rockingham, New Hampshire,
during the first quarter of 2012, which increased total sales.

Retail sales growth was driven by strength in ladies and men's apparel,
handbags, ladies shoes Topshop branded apparel, and cosmetics/fragrances. This
sales growth was partially offset by a decline in major home fashion due to
the reallocation of selling space from this department to ladies apparel and
shoes. In addition, sales from the Company's Omni-channel initiatives grew
63.5% from $76.3 million to $124.7 million for the 48-week period ended
December 29, 2012, excluding in-store returns.

                        Continuing Operations (Unaudited)
                        9-week period ended         48-week period ended
(millions of Canadian    December 29,  December 31,  December 29, December 31,
dollars)                 2012          2011          2012         2011
                                                              
Retail sales             $1,109.0      $1,084.0      $3,799.6     $3,634.0
Same Store Sales                                               
Percentage Change ^(1)
Continuing               1.9%          7.5%          4.0%         5.2%
operations^(2)
Continuing operations
(excluding impact of     2.4%          8.0%          3.6%         6.7%
Foreign Exchange) ^ (2)
Hudson's Bay^(2)         6.7%          10.7%         5.5%         7.3%
Lord & Taylor^(3)        -4.4%         6.7%          2.0%         7.2%
Store Information                                              
Store count^(4)                                                
Hudson's Bay             90            91                        
Lord & Taylor            48            46                        
Home Outfitters          69            69                        
Total Stores             207           206                       
                                                              
Notes:                                                         
(1) The Company calculates same store sales on a year-over-year basis using
sales from stores operating for at least 13months, Internet sales and
clearance store sales.
(2) Our sponsorship of the Vancouver 2010 Winter Olympics and our status as
the exclusive supplier of the Canadian Olympic Collection resulted in
significant non-recurring sales in the fourth quarter of Fiscal 2009 and the
first quarter of Fiscal 2010. In order to provide meaningful comparisons on a
period over period basis, we disclose same store sales percentage change
information excluding the impact of sales of Olympic merchandise for the first
quarter of 2010 of $50.5 million.
(3) Same store sales of Lord& Taylor are calculated in U.S. dollars.
(4) Lord & Taylor operates two Lord & Taylor Home stores and three Lord &
Taylor Outlet stores that are not included in the store count.

About Hudson's Bay Company

Hudson's Bay Company ("HBC"), founded in 1670, is North America's longest
continually operated company and is a leading retailer offering a wide
selection of branded merchandise in Canada and the United States through its
three banners. In the United States, HBC operates Lord & Taylor, a fashion
department store with 48 full-line store locations throughout the northeastern
United States and in two major cities in the Midwest. In Canada, HBC operates
Hudson's Bay, Canada's largest national branded department store with 90
locations. HBC also operates Home Outfitters, a kitchen, bed and bath
superstore with 69 locations. With approximately 29,000 associates in Canada
and the U.S., Hudson's Bay Company banners provide stylish, quality
merchandise at great value and with a dedicated focus on exceeding customers'
expectations.

Forward looking statements

Information in this press release that is not current or historical factual
information may constitute forward-looking information, including
future-oriented financial information and financial outlooks, within the
meaning of securities laws. This information is based on certain assumptions
regarding expected growth, results of operations, performance, and business
prospects and opportunities. While the Company considers these assumptions to
be reasonable, based on information currently available, they may prove to be
incorrect. Forward-looking information is subject to a number of risks,
uncertainties and other factors that could cause actual results to differ
materially from what the Company currently expects. These risks, uncertainties
and other factors include, but are not limited to:credit, market, currency,
operational, liquidity and funding risks, including changes in economic
conditions, interest rates or tax rates, the timing and market acceptance of
future products, competition in the Company's markets, the growth of certain
business categories and market segments and the willingness of customers to
shop at the Company's stores, the Company's margins and sales and those of the
Company's competitors, the Company's reliance on customers, risks and
uncertainties relating to information management, technology, supply chain,
product safety, changes in law, regulations, competition, seasonality,
commodity price and business disruption, the Company's relationships with
suppliers and manufacturers, changes to existing accounting pronouncements,
the ability of the Company to successfully implement its strategic
initiatives, changes in consumer spending, managing our portfolio of brands
and our merchandising mix, seasonal weather patterns, economic, social, and
political instability in jurisdictions where suppliers are located, increased
shipping costs, potential transportation delays and interruptions, the risk of
damage to the reputation of brands promoted by the Company and the cost of
store network expansion and retrofits, compliance costs associated with
environmental laws and regulations, fluctuations in currency and exchange
rates, commodity prices, the Company's ability to maintain good relations with
its employees, changes in the law or regulations regarding the environment or
other environmental liabilities, the Company's capital structure, funding
strategy, cost management programs and share price, the Company's ability to
integrate acquisitions and the Company's ability to protect its intellectual
property.

For more information on these risks, uncertainties and other factors the
reader should refer to the Company's filings with the securities regulatory
authorities, including the Company's supplemented PREP prospectus dated
November 19, 2012, which is available on SEDAR at www.sedar.com. To the extent
any forward-looking information in this press release constitutes
future-oriented financial information or financial outlooks, within the
meaning of securities laws, such information is being provided to demonstrate
the potential of the Company and readers are cautioned that this information
may not be appropriate for any other purpose.Future-oriented financial
information and financial outlooks, as with forward-looking information
generally, are based on assumptions and subject to risks, uncertainties and
other factors. Actual results may differ materially from what the Company
currently expects.Other than as required under securities laws, the Company
does not undertake to update any forward-looking information at any particular
time.The reader should not place undue importance on forward-looking
information and should not rely upon this information as of any other
date.All forward-looking information contained in this press release is
expressly qualified in its entirety by this cautionary statement.

E-HBC1670

CONTACT: INVESTOR RELATIONS:
         Lucas Evans
         Senior Vice President and Treasurer
         Hudson's Bay Company
         Phone: (416) 861-4444
         Email: investorrelations@hbc.com
        
         MEDIA CONTACTS:
         Tiffany Bourre
         Senior Manager, External Communications
         Hudson's Bay Company
         Phone: (905) 595-7184
         Email: tiffany.bourre@hbc.com
 
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