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August 16, 2006
Saks Reports Q2 Loss Of $52 Million
Saks Inc. reported a second quarter net loss of nearly $52 million, after taking a series of special charges.
The company’s Saks Fifth Avenue chain narrowed its operating loss for the quarter ended June 29 to $33.3 million, from $42.8 million a year ago, as comps rose 3.4%.
Margins at SFA remained flat, however, as the chain struggled to squeeze out higher profits.
Posted by Blacks on August 16, 2006 11:18 AM
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