Retailer Saks Incorporated announced that comparable store sales for the five weeks ended January 4, 2003 decreased 2.1% on a total company basis. By segment, comparable store sales decreased 1.6% for SDSG and decreased 3.0% for SFAE for the month. Sales below are in millions and represent sales from owned departments only.
For the five weeks ended January 4, 2003 compared to the five weeks ended January 5, 2002, owned sales were:
Total Comparable
This Year Last Year (Decrease) (Decrease)
SDSG $ 615.7 $ 618.3 (0.4%) (1.6%)
SFAE 312.0 328.8 (5.1%) (3.0%)
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Total $ 927.7 $ 947.1 (2.0%) (2.1%)
On a quarter-to-date basis, for the nine weeks ended January 4, 2003 compared to the nine weeks ended January 5, 2002, owned sales were:
Total Comparable
This Year Last Year (Decrease) (Decrease)
SDSG $ 966.8 $ 995.7 (2.9%) (4.1%)
SFAE 535.1 569.8 (6.1%) (3.9%)
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Total $1,501.9 $1,565.5 (4.1%) (4.0%)
Management expects earnings per share (before certain items) for the fourth quarter ending February 1, 2003 will approximate last year’s fourth quarter earnings (before certain items) of $.50 per share. Management anticipates that the year-over-year decline in fourth quarter sales will be offset by improvement in the Company’s operating margin.
On a year-to-date basis, for the eleven months ended January 4, 2003 compared to the eleven months ended January 5, 2002, owned sales were:
Total Comparable
This Year Last Year (Decrease) (Decrease)
SDSG $3,369.4 $3,417.7 (1.4%) (1.6%)
SFAE 2,174.8 2,271.0 (4.2%) (0.8%)
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Total $5,544.2 $5,688.7 (2.5%) (1.3%)
