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November 21, 2007
Saks Sees Continued Strength In Luxury
Saks Inc.’s third quarter sales jumped 14.2% to $796 million thanks to continued strength in the luxury sector, the department store chain said. Profits rose to $21.6 million from $6.2 million a year ago.
While Saks acknowledged a spending slowdown among “aspirational” luxury shoppers who buy at opening price points, true luxury shoppers are keeping the market afloat.
Posted by Blacks on November 21, 2007 02:18 PM
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