Hudson’s Bay Company’s financial statements for its year ended February 3, 2018 (fiscal 2017) can be found at the end of this book.

Instructions

Refer to the company’s financial statements and accompanying notes to answer these questions.

a. What business is Hudson’s Bay Company in?

b. What were the company’s gross revenues for the fiscal years 2017 and 2016? What is the percentage change? Why has the company seen this result?

c. Based on your findings in part (b), comment on the company’s net income/loss over the period.

d. Review the notes to the financial statements to determine the company’s revenue recognition policies. Identify the major policies, considering the nature of the business and the industry.