Incorporated announced that owned sales totaled $237.6 million for the
five weeks ended July 7 compared to $247.3 million for the five weeks
ended July 1, 2006, a 3.9% decrease. Comparable store sales decreased
As previously disclosed, May comparable store sales were positively
impacted by a promotional calendar shift, and consequently, management
expected that June comparable store sales would be negative. On a
quarter-to-date basis, for the two months ended July 7, 2007, owned
sales totaled $486.5 million compared to $425.8 million for the two
months ended July 1, 2006, a 14.3% increase. Comparable store sales
increased 12.5% for the two months combined. Management continues to
expect low-double digit comparable store sales growth for the second
On a year-to-date basis, for the five months ended July 7, 2007, owned
sales totaled $1,272.1 million compared to $1,102.2 million for the
five months ended July 1, 2006, a 15.4% increase. Comparable store
sales increased 13.7% for the five-month period.
For June, the strongest categories at Saks Fifth Avenue stores were
mens apparel, accessories, and shoes; womens contemporary and
designer sportswear; handbags; and fragrances. The softest categories
at Saks Fifth Avenue were jewelry and womens modern bridge apparel.
Saks Direct and Saks Off 5th performed well for the month.
Saks Incorporated currently operates Saks Fifth Avenue, which consists
of 54 Saks Fifth Avenue stores, 49 Saks Off 5th stores, and saks.com.
The Company also operates Club Libby Lu specialty stores.