Feb 23 (Reuters) - Hudson's Bay Co HBC.TO :
* Hudson's Bay company announces comparable sales results for the fourth quarter ended January 28, 2017
* Hudson's Bay Co says has finalized an initiative to reduce expenses by rationalizing its corporate functions and overhead across North America
* Hudson's Bay Co says annualized savings from initiative are expected to be approximately $75 million, majority of which are expected to be realized in 2017
* Hudson's Bay Co says in conjunction with initiative, company anticipates incurring one-time severance charges approaching $30 million
* Hudson's Bay Co says initial savings from co's ongoing comprehensive operational review are expected to offset some of pressures facing business in 2017
* Hudson's Bay Co says , in fiscal 2017, company expects to pay significantly more variable compensation to its associates when compared to fiscal 2016
* Hudson's Bay - on a constant currency basis, consolidated comparable sales decrease of 1.2 pct for quarter beginning Oct. 30, 2016 and ending Jan. 28, 2017 Source text for Eikon: ID:nBw35XxNma Further company coverage: HBC.TO