Saks Narrows 2Q Loss

New York City, Saks Inc. announced Tuesday that a jump in same-store sales and expanded margins on reduced markdowns contributed to the narrowing of its second-quarter loss.

The company reported a loss of $24.6 million, compared with a loss of $51.9 million in the second quarter of fiscal 2006.

Second-quarter sales jumped 15% to $694.1 million, from $603.8 million in the prior-year period. Second-quarter same-store sales increased 13.2%.