Saks Inc. announced that owned sales totaled $235.7 million for the four weeks ended Oct. 29, compared to $233.9 million a year ago. Comparable store sales increased 1.8 percent for the month.
For October, the strongest categories at Saks Fifth Avenue stores included women’s contemporary sportswear and WEAR NOW (bridge) apparel, men’s clothing and contemporary apparel, men’s shoes, and handbags. Saks Direct performed well during the month.
This October, the company excluded cosmetics and fragrances from its four-day Friends & Family discount event; cosmetics and fragrances were offered at a ten percent discount during the October 2010 event. Management estimates that October 2011 comparable store sales would have increased by mid-single digits if cosmetics and fragrances had been included in the event.
For the third quarter ended October 29, 2011, owned sales totaled $678.6 million compared to $649.6 million for the prior year third quarter ended October 30, 2010, a 4.5 percent increase. Comparable store sales increased 5.8% for the third quarter.
On a year-to-date basis, for the nine months ended October 29, 2011, owned sales totaled $2,050.5 million compared to $1,889.8 million for the prior year nine months ended October 30, 2010, an 8.5 percent increase. Comparable store sales increased 10.3 percent for the nine months.
Saks Incorporated operates 46 Saks Fifth Avenue stores, 60 Saks OFF 5TH stores, and saks.com.
