Saks reports strong October growth

NEW YORK Saks today announced that owned sales totaled $269.1 million for the four weeks ended Nov. 3 compared to $232.2 million for the four weeks ended Oct. 28, 2006, a 15.9% increase. Comparable-store sales increased 10.6% for the four-week period.

For October, the strongest categories at Saks Fifth Avenue were women’s shoes; handbags; fashion and fine jewelry; men’s accessories, shoes, and contemporary apparel; and fragrances. The weakest categories at Saks Fifth Avenue for October were women’s classic and modern bridge sportswear, Salon Z (women’s large sizes), outerwear, and soft accessories.

The company expects comparable-store sales growth of high-single digits in the aggregate for the fourth quarter. The company previously disclosed that, due to the retail calendar shift and promotional adjustments, it expects to see outsized comparable-store sales growth in November and below-average comparable-store sales growth in December.