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May 22, 2007
Saks Reports Surge In Q1 Comps
Saks Fifth Avenue continues to gain momentum, posting a 14.4 percent increase in comps for the first quarter of the year, and a sales gain of 15.9 percent to $792.7 million.
The department store chain has benefitted from a renewed focus on luxury. High-end handbags, accessories, menswear and tailored clothing led sales, the retailer said.
Meanwhile, net profits fell 86 percent when compared to last year’s figures, which were boosted by massive store selloffs.
Posted by Blacks on May 22, 2007 08:34 AM
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