UPDATE 2-Saks owner Hudson's Bay reports 34 pct rise in Q3 sales

* Q3 total same-store sales rise 12.9 pct
* Overall online sales jump 36.3 pct
* Profit C$0.01/share vs. loss C$0.07 year ago
* Cuts 2015, 2016 sales forecasts

(Adds sales forecast)
Dec 10 (Reuters) - Canadian department store operator
Hudson's Bay Co HBC.TO posted a 34 percent rise in quarterly
sales, helped by higher same-store sales in North America and
Europe and strong online sales.
However, the company cut its sales forecasts for 2015 and
2016, citing among other reasons the impact of terrorism
incidents on its businesses in Belgium and Germany.
The company, which has been opening stores in North America
including Saks and Saks Off 5th, said total same-store sales
rose 12.9 percent in the third quarter.
Overall online sales jumped 36.3 percent in the quarter
ended Oct. 31.
The company, which bought Germany's Kaufhof department store
chain in June from Metro MEOG.DE for 2.8 billion euros to
expand into Europe, said last month it was planning more
acquisitions.
Hudson's Bay also plans to increase sales significantly over
the next five years at about 136 Kaufhof stores in Germany and
Belgium.
North American retailers are hoping for a strong holiday
season after a less-than-exciting back-to-school quarter, which
led to a selloff in retail stocks.
Hudson's Bay cut its 2015 sales forecast to C$10.7 billion-
C$11.2 billion from C$11.0 billion-C$11.5 billion.
The company reduced its 2016 sales guidance to C$14.2
billion-C$15.2 billion, from C$14.5 billion-C$15.5 billion.
Hudson's Bay said on Thursday total sales rose to C$2.57
billion ($1.89 billion) in the third quarter, from C$1.91
billion a year earlier.
Net profit was C$1 million, or 1 Canadian cent, compared
with a net loss of C$13 million, or 7 Canadian cents per share.
Excluding certain items, the company posted a loss of 4
Canadian cents per share.
Analysts had expected a profit of 2 Canadian cents per share
on revenue of C$2.69 billion, according to Thomson Reuters
I/B/E/S.
Up to Thursday's close of C$19.90, the Toronto-based
retailer's stock had fallen 19 percent this year.