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Report: Saks to add luxury items, outlet stores
New York – Saks Fifth Avenue is reportedly planning to both increase the amount of high-end luxury goods it sells and also increase the number of Saks Off 5th outlet stores it operates. According to the Wall Street Journal, Richard Baker, CEO of Canadian department store chain (and new Saks owner) Hudson’s Bay Company wants to overhaul Saks stores by selling more items such as $48,000 Louis Vuitton crocodile handbags.
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Tuesday Morning ‘pleased’ with progress in second quarter
Tuesday Morning is starting to see the results of its turnaround strategy, which involved the company exiting a number of non-core categories, such as women’s apparel and footwear.
In the second quarter of fiscal 2014, comparable sales in ongoing core categories increased 7% and were led by exceptional strength in furniture, up 57%; sheets and linens, up 23%; and home décor, up 20%.