Saks Inc.'s sales totaled $230.2 million for the five weeks ended July 4 compared to $239.3 million a year ago, a 3.8% decrease. Comparable store sales decreased 4.4% for the month.
On a quarter-to-date basis, for the two months ended July 4, 2009, owned sales totaled $396.2 million compared to $463.2 million for the two months ended July 5, 2008, a 14.5% decrease. Comparable store sales decreased 15.2% for the two-month period.
On a year-to-date basis, owned sales totaled $1.01 billion compared to $1.31 billion for the five months ended July 5, 2008, a 22.5% decrease. Comparable store sales decreased 23.2% for the five-month period.
June sales performance was positively affected by the shift of a designer sale event into June this year from May last year. Management continues to estimate that comparable store sales will decline in the mid-teen range for the second fiscal quarter.
The Saks Fifth Avenue stores experienced continued weakness across all merchandise categories during the month. Saks Direct showed relative strength in June.
Prior year numbers have been adjusted to remove the sales of the Companys discontinued Club Libby Lu operations.
