Saks May comps down 26.6%

NEW YORK Saks announced that owned sales totaled $166.1 million for the four weeks ended May 30 compared with $223.9 million for the four weeks ended May 31, 2008, a 25.8% decrease. Comparable-store sales decreased 26.6% for the month.

May sales performance was positively affected by the shift of a clearance event into the month from April last year and negatively affected by the shift of a designer sale event into June this year from May last year.

Management continues to estimate that comparable-store sales will decline in the mid-teen range for the second fiscal quarter.