Home / Knowledge / News / Fashion / Saks Q1 comparable store sales soar in April

Saks Q1 comparable store sales soar in April

May '08
Retailer Saks Incorporated announced that owned sales totaled $349.7 million for the four weeks ended May 3, 2008 compared to $281.3 million for the four weeks ended May 5, 2007, a 24.3% increase. Comparable store sales increased 23.9% for the period.

For the first quarter ended May 3, 2008, owned sales totaled $853.4 million compared to $785.6 million for the prior year first quarter ended May 5, 2007, an 8.6% increase. Comparable store sales increased 8.4% for the quarter.

For April, the strongest categories at Saks Fifth Avenue were women's designer and "gold range" apparel, men's apparel and shoes, jewelry, women's shoes, and handbags. The weakest categories at Saks Fifth Avenue for April were women's classic bridge apparel and women's petites and large sizes. Saks Direct and Saks Off 5th performed well for the month.

Sales performance for April was positively affected by increased promotional activity. These promotions included a more extensive Friends & Family event and the acceleration of a spring season clearance event into the last week of April this year from the first week of May last year.

Management estimates that, excluding these promotional changes, April comparable store sales would have increased by high-single digits and that comparable store sales for the first quarter would have increased by mid-single digits.

Customers have responded to the increased promotional activity and as a result, management believes that it is on track to achieve targeted inventory levels by the end of the second fiscal quarter. The increased promotional activity will have a meaningful negative impact on the Company's first quarter gross margin rate.

For the second quarter, management expects low single digit comparable store sales growth, modestly reduced year-over-year promotional activity, and modest year-over-year improvement in the gross margin rate.

Saks Incorporated

Interviews View All

Top executives, Indian retail players

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Top executives, Textile industry

Top executives
Textile industry

Customised t-shirts is not a fad

Divyesh Mashruwala, Akshar Industries

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Jos Notermans,

Jos Notermans

SPGPrints is a global provider of integrated solutions for rotary screen...

Alphonse Reddy,

Alphonse Reddy

Bangalore-based Sunday designs and makes mattresses and accessories that...

Henk-Jan Rohaan,

Henk-Jan Rohaan

The custom-built machineries of Brugman Holland are known for reliability, ...

Karl Zelik, Vanderbilt University

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Chunyi Zhi, City University of Hong Kong

Chunyi Zhi
City University of Hong Kong

<div><b>Chunyi Zhi</b>, associate professor in the Department of Materials ...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Robert Brunner, Devereux

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

November 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Follow us on instagram


Follow Fibre2Fashion On

Advanced Search