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August 22, 2007
Saks Trims Losses, Increases Sales In 2Q
Saks Fifth Avenue managed to trim its losses in the second quarter of the year while increasing sales by 15 percent to $694 million. The department store chain reported losses of $25 million, down from $52 million a year ago.
Meanwhile, same store sales increased 13 percent due to turnaround efforts, which included increasing margins and taking fewer markdowns.
Posted by Blacks on August 22, 2007 09:47 AM
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