Saks Inc. reports strong comps growth
NEW YORK Retailer Saks Inc. today announced that owned sales totaled $201.4 million for the four weeks ended Aug. 4 compared to $172.4 million for the four weeks ended July 29, 2006, a 16.8% increase. Comparable-store sales increased 14.9% for the four-week period.
For the quarter ended Aug. 4, owned sales totaled $687.9 million compared to $598.2 million for the quarter ended July 29, 2006, a 15% increase. Comparable-store sales increased 13.2% for the quarter.
On a year-to-date basis, for the six months ended August 4, owned sales totaled $1..5 billion compared to $1.3 billion for the six months ended July 29, 2006, a 15.6% increase. Comparable-store sales increased 13.9% for the six-month period.
The company reported that the strongest categories for the month were men's apparel, accessories, and shoes; women's contemporary, "gold range," and designer sportswear; fine jewelry; and handbags. Saks Direct and Off 5th also performed well for the month.