Saks Inc. announced that owned sales totaled $219.8 million for the four weeks ended Oct. 31, compared to $216.0 million a year ago, a 1.8% increase. Comparable store sales increased 0.7% for the month.
For the third quarter ended Oct. 31, owned sales totaled $622.7 million compared to $682.0 million for the third quarter ended November 1, 2008, an 8.7% decrease. Comparable store sales decreased 10.1% for the quarter.
On a year-to-date basis, for the nine months ended October 31, 2009, owned sales totaled $1,794.3 million compared to $2,175.3 million for the nine months ended November 1, 2008, a 17.5% decrease. Comparable store sales decreased 18.5% for the nine-month period.
The Saks Fifth Avenue stores experienced continued weakness during the month, although several merchandise categories showed relative strength including women’s designer sportswear and “gold range” apparel, outerwear, jewelry, and soft accessories. Saks Direct performed very well during the month, and Saks OFF 5TH also showed relative strength in October.
Management continues to estimate that comparable store sales will decline in the mid-to-high single digit range in the aggregate for the second half of fiscal 2009.
