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Saks Q2 loss narrows, closing two additional stores


New York City Saks said Tuesday that it narrowed its loss for the quarter ended July 31 to $32.2 million, compared with a loss of $54.5 million a year earlier.

Revenue rose 5% to $593.1 million, beating analysts’ expectations of  revenue of $585.2 million.

The department store retailer cited fading promotions for the narrowed loss, as it was able to sell more products at full-price.

Saks also announced Tuesday that it plans to close its Saks Fifth Avenue store in Plano, Texas, next week and one in Mission Viejo, Calif., in October.

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