Hudson Bay announced its earnings for the second quarter. The profit was derived from the venture capital funds, as well as due to the increase in sales by 15%, which exceeded market expectations. Earlier in June, the company acquired the German Galeria Kaufhof chain for $ 2.7 billion. The company has received in the last quarter 67 million Canadian dollars in net profit, and according to our estimates will improve financial performance in the coming quarters. We forecast growth of 20-22% per annum in the medium term.