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August 10, 2007
Department Stores Report Strong Comps For July
Department store chains fared well in July, reporting same-store sales that exceeded expectations. Saks Fifth Avenue reported a 14.9 percent gain, while Nordsrom’s sales climbed 9.4 percent. Neiman Marcus saw an increase of 8.3 percent for the month, and released preliminary annual results with sales up 8.9 percent to $4.4 billion.
Mass market retailers did not do as well, claiming they were hurt by a late start to the fall school semester which took a bite out of back-to-school sales.
Posted by Blacks on August 10, 2007 09:52 AM
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