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Women's shoes & accessories perk up at Saks Fifth
11
Jan '08
Retailer Saks Incorporated announced that owned sales totaled $447.7 million for the five weeks ended January 5, 2008 compared to $444.0 million for the five weeks ended December 30, 2006, a 0.8% increase. Comparable store sales increased 0.8% for the five-week period.

As expected, comparable store sales were outsized in November and below average in December due to the retail calendar shift and promotional adjustments. On a quarter-to-date basis, for the two months ended January 5, 2008, owned sales totaled $795.3 million compared to $719.2 million for the two months ended December 30, 2006, a 10.6% increase. Comparable store sales increased 10.2% for the two-month period.

On a year-to-date basis, for the eleven months ended January 5, 2008, owned sales totaled $3,058.8 million compared to $2,684.9 million for the eleven months ended December 30, 2006, a 13.9% increase. Comparable store sales increased 12.3% for the eleven-month period.

For December, the strongest categories at Saks Fifth Avenue were fine jewelry; women's shoes, accessories, and handbags; men's accessories, shoes, and contemporary apparel; and outerwear. The weakest categories at Saks Fifth Avenue for December were women's modern collections, women's contemporary sportswear, women's "gold range" apparel, and Salon Z (women's large sizes). Saks Direct and Off 5th performed well for the month.

As expected, the Company continues to experience a more challenging macroeconomic and competitive environment, and consistent with third quarter trends, customers have continued to shift more of their spending to promotional events.

As previously disclosed, management expects comparable store sales growth of high-single digits in the aggregate for the fourth quarter.

Saks Incorporated


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