Hudson Group Reports Preliminary Fourth Quarter and Full Year 2018 Organic Growth in Line with Expectations
East Rutherford, NJ – January 14, 2019 – Hudson Ltd. (NYSE: HUD) (“Hudson Group” or “Company”), a leader in North American travel retail, today commented on its preliminary fourth quarter and full year 2018 net sales ahead of its participation at the 2019 ICR Conference.
Preliminary full year 2018 organic net sales results are in line with the Company's expectations and long-term growth targets.
For the fourth quarter and full year 2018, the Company expects to report that:
- Fourth quarter net sales increased $19.8 million or 4.5% to $459.8 million from the year-ago period; full year net sales increased $121.2 million or 6.9% to $1,882.0 million compared to the prior year;
- Fourth quarter organic net sales growth, which is a combination of like-for-like net sales growth and net new business and expansions, was 4.6%, compared to 9.4% in the year-ago period; full year organic net sales growth was 7.1%, compared to 8.8% in 2017;
- Fourth quarter like-for-like growth was 1.7% (2.5% in constant currency), compared to 5.6% (4.5% in constant currency) in the year-ago period. Full year like-for-like growth was 3.7% (3.7% in constant currency), compared to 4.8% (4.4% in constant currency) in 2017;
- Fourth quarter like-for-like growth was impacted by a 0.8% currency headwind versus a 1.1% currency tailwind in the prior year period.
The Company plans to report results for the fourth quarter and year ending December 31, 2018, on March 14, 2019.
The fourth quarter and full year data presented above is based on preliminary estimates and has not been audited. As such, it may be subject to change once our financial statements for 2018 are finalized. Moreover, our expectation for fourth quarter and full year 2018 net sales should not be taken as an indication of our expectation for fourth quarter or full year 2018 results of operations more generally.