Home / Knowledge / News / Fashion / Saks posts November comparable store sales
Saks posts November comparable store sales
Dec '08
Retailer Saks Incorporated announced that owned sales totaled $332.9 million for the four weeks ended November 29, 2008 compared to $347.6 million for the four weeks ended December 1, 2007, a 4.2% decrease. Comparable store sales decreased 5.2% for the month.

On a year-to-date basis, for the ten months ended November 29, 2008, owned sales totaled $2,543.4 million compared to $2,611.2 million for the prior year ten-month period ended December 1, 2007, a 2.6% decrease. Comparable store sales decreased 2.6% for the ten-month period.

In the prior year, comparable store sales increased 25.7% and 14.5% for the fiscal November and ten-month periods, respectively.

For November, the strongest businesses and categories at Saks Fifth Avenue were women's designer apparel, handbags, women's and men's shoes, men's contemporary apparel, and Saks Direct. The weakest categories at Saks Fifth Avenue for November were women's bridge, petite, and Salon Z (large size) apparel; women's outerwear; men's accessories; jewelry; fragrances and cosmetics; and intimate apparel.

The Company continues to face very challenging macroeconomic and retail conditions. November 2008 sales were also negatively affected by the retail calendar shift, with seven fewer post-Thanksgiving shopping days than last year. This was partially offset by sales generated from an increased level of promotional activity and markdowns in November. Customers continued to shift purchases from regular price to promotional and clearance priced merchandise. Based on the current level of consumer demand, the increased promotional environment, and the Company's permanent markdown cadence cycle, the Company continues to expect a significant year-over-year decrease in the gross margin rate for the fourth quarter.

Saks Incorporated currently operates Saks Fifth Avenue, which consists of 53 Saks Fifth Avenue stores, 51 Saks OFF 5TH stores, and saks.com. The Company also operates Club Libby Lu specialty stores.

Saks Incorporated

Must ReadView All

Nigeria's ABP scheme targets 1 lakh cotton farmers in 2019

Textiles | On 21st Mar 2019

Nigeria's ABP scheme targets 1 lakh cotton farmers in 2019

The Central Bank of Nigeria’s (CBN) Anchor Borrowers Programme (ABP)...

Pic: CorePower Yoga

Apparel/Garments | On 21st Mar 2019

TSG Consumer Partners takes over CorePower Yoga

TSG Consumer Partners, a leading private equity firm focused...

Pic: Showcase USA

Apparel/Garments | On 21st Mar 2019

Showcase USA store helps in cross-border e-commerce sales

Leveraging the backbone of ABC Depot Logistics, the exclusive 3PL and ...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

RoSCTL is need of the hour

Angelina Francesca Cheang, MY ANJE

Angelina Francesca Cheang

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Md Hanifur Rahman, Aman Group

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Urmil Arya,

Urmil Arya

Sushila International, a well established textile organisation established ...

Harmeet Singh,

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Suresh Patel, Sidwin Fabric

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Pierre Wiertz, EDANA

Pierre Wiertz

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

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

March 2019

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

news category

Related Categories:

Advanced Search