Confirming preliminary estimates offered in April, the travel retailer and book chain Hudson reported first quarter sales for the period ending March 31 of $341.5 million, down 23.3 percent due to COVID-related store closures in airports worldwide. Sales of “literature and publications,” which includes books, fell even further, at $24.6 million, down 31 percent from $35.7 million a year ago. Same-store sales were down 22.5 percent, to $307.4 million. The company recorded a goodwill impairment of $52.3 million, contributing to an operating loss of $(76.3 million), compared to a profit of $15.1 million last first quarter. Beginning in mid-May, as […]
