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Saks Fifth Avenue to relocate Houston Galleria flagship
Houston -- Saks Inc. will open a new flagship store immediately adjacent to its existing location in the Houston Galleria, featuring 198,000 sq. ft. over two levels and a state-of-the-art store design. The current store will remain open until the new store opens in fall 2015. Once the old store closes, it will be converted to a two-level mall wing connecting the new Saks to Neiman Marcus and adding 35 retailers and restaurants.
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Retail sales mixed in August
New York -- Although back-to-school sales were unexpectedly sluggish, retail sales for the month of August benefited from a late boost in store traffic.
Of the retailers still reporting monthly sales – most so far are reporting slight increases in August same-store sales. Retail Metrics forecast an overall August gain of 3.2% year-over-year; retail sales advanced 3.3% during the same period last year.
Costco Wholesale Corp. reported a same-store sales rise of 4% in August, surpassing a forecast 3.8% gain.