Saks Incorporated reported sales grew 16.8% for the four weeks ended
August 4 to $201.4 million from $172.4 million a year ago. Comparable
store sales increased 14.9% for the four-week period.
For July, nearly all merchandise categories at Saks Fifth Avenue
performed well. The strongest categories for the month were men's
apparel, accessories, and shoes; women's contemporary, “gold range,”
and designer sportswear; fine jewelry; and handbags. Saks Direct and
Off 5th also performed well for the month.
For the quarter ended August 4, owned sales totaled $687.9 million
compared to $598.2 million for the quarter ended July 29, 2006, a 15.0%
increase. Comparable store sales increased 13.2% for the quarter.
On a year-to-date basis, for the six months ended August 4, 2007, owned
sales totaled $1,473.5 million compared to $1,274.6 million for the six
months ended July 29, 2006, a 15.6% increase. Comparable store sales
increased 13.9% for the six-month period.
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.