Saks Inc. reported comparable store sales increased 7.7% for the
five-weeks ended Oct. 3. Total sales climbed 9.5% to $307.4 million
from $280.8 million a year ago.
For September, the strongest categories at Saks Fifth Avenue were
women's shoes, women's designer sportswear, evening dresses,
fragrances, intimate apparel, and men's accessories and shoes. The
weakest categories at Saks Fifth Avenue for September were women's
classic bridge sportswear, Salon Z (women's large sizes), outerwear,
and soft accessories. Saks Direct also performed well for the month.
For the two months ended Oct. 6, net sales climbed 13.5% to $520.9 million from $458.9 million. Comps grew 11.8%.
For the eight months ended Oct. 6., owned sales totaled $1,994.4
million compared to $1,733.4 million, a 15.1% increase. Comparable
store sales increased 13.3%.
As previously disclosed, management expects comparable store sales
growth of high-single digits in the aggregate for the fall season. The
high-end chain previously disclosed that, due to the retail calendar
shift and promotional adjustments, it expects to see outsized
comparable store sales growth in November and below-average comparable
store sales growth in October and December.
Saks currently operates Saks Fifth Avenue, which consists of 54 Saks
Fifth Avenue stores, 49 Saks Off 5th stores, and saks.com. It also
operates Club Libby Lu specialty stores.
