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Contemporary apparel & fragrances performs well at Saks Fifth
12 Nov '07
2 min read
Retailer Saks Incorporated announced that owned sales totaled $269.1 million for the four weeks ended November 3, 2007 compared to $232.2 million for the four weeks ended October 28, 2006, a 15.9% increase. Comparable store sales increased 10.6% for the four-week period.
For the third quarter ended November 3, 2007, owned sales totaled $790.0 million compared to $691.1 million for the quarter ended October 28, 2006, a 14.3% increase. Comparable store sales increased 11.4% for the third quarter.
On a year-to-date basis, for the nine months ended November 3, 2007, owned sales totaled $2,263.6 million compared to $1,965.6 million for the nine months ended October 28, 2006, a 15.2% increase. Comparable store sales increased 13.0% for the nine-month period.
For October, the strongest categories at Saks Fifth Avenue were women's shoes; handbags; fashion and fine jewelry; men's accessories, shoes, and contemporary apparel; and fragrances. The weakest categories at Saks Fifth Avenue for October were women's classic and modern bridge sportswear, Salon Z (women's large sizes), outerwear, and soft accessories.
The Company's October sales performance reflected successful promotional events including a Friends & Family event and an Electronic Gift Card event, both of which also were held in October 2006. Saks Direct and Off 5th also performed well for the month.
Management expects comparable store sales growth of high-single digits in the aggregate for the fourth quarter. The Company previously disclosed that, due to the retail calendar shift and promotional adjustments, it expects to see outsized comparable store sales growth in November and below-average comparable store sales growth in December.
Saks Incorporated currently operates Saks Fifth Avenue, which consists of 54 Saks Fifth Avenue stores, 49 Saks Off 5th stores, and saks.com. The Company also operates Club Libby Lu specialty stores.
For the third quarter ended November 3, 2007, owned sales totaled $790.0 million compared to $691.1 million for the quarter ended October 28, 2006, a 14.3% increase. Comparable store sales increased 11.4% for the third quarter.
On a year-to-date basis, for the nine months ended November 3, 2007, owned sales totaled $2,263.6 million compared to $1,965.6 million for the nine months ended October 28, 2006, a 15.2% increase. Comparable store sales increased 13.0% for the nine-month period.
For October, the strongest categories at Saks Fifth Avenue were women's shoes; handbags; fashion and fine jewelry; men's accessories, shoes, and contemporary apparel; and fragrances. The weakest categories at Saks Fifth Avenue for October were women's classic and modern bridge sportswear, Salon Z (women's large sizes), outerwear, and soft accessories.
The Company's October sales performance reflected successful promotional events including a Friends & Family event and an Electronic Gift Card event, both of which also were held in October 2006. Saks Direct and Off 5th also performed well for the month.
Management expects comparable store sales growth of high-single digits in the aggregate for the fourth quarter. The Company previously disclosed that, due to the retail calendar shift and promotional adjustments, it expects to see outsized comparable store sales growth in November and below-average comparable store sales growth in December.
Saks Incorporated currently operates Saks Fifth Avenue, which consists of 54 Saks Fifth Avenue stores, 49 Saks Off 5th stores, and saks.com. The Company also operates Club Libby Lu specialty stores.
Saks Incorporated
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