Women's modern collections generates strong sales performance at Saks
09 Feb '07
2 min read
Retailer Saks Incorporated announced that January 2007 comparable store sales increased 11.4% over the prior year. For the current year, the January, fourth quarter, and fiscal year periods ended February 3, 2007 and included five weeks, 14 weeks, and 53 weeks, respectively.
For the prior year, the January, fourth quarter, and fiscal year periods ended January 28, 2006 and included four weeks, 13 weeks, and 52 weeks, respectively. Comparable store sales numbers below do not reflect the benefit of the additional week and are based on comparisons of the four weeks, 13 weeks, and 52 weeks ended January 27, 2007 to the prior year comparable periods.
The current year January period includes an extra week, creating a 53-week fiscal year that occurs every six years in the accounting cycle for many retailers. Total and comparable store sales for all periods below represent Saks Fifth Avenue (SFA) and Club Libby Lu sales only. Sales below are in millions and represent owned departments only.
For January, SFA generated strong sales performances across most merchandise categories and businesses. Some of the strongest areas in January were women's modern collections and designer apparel, shoes, handbags, fine jewelry, accessories, men's advanced sportswear and accessories, and Off 5th.
Saks Incorporated currently operates Saks Fifth Avenue, which consists of 54 Saks Fifth Avenue stores, 50 Saks Off 5th stores, and saks.com. The Company also operates62 Club Libby Lu specialty stores.
The Company completed the sale of its Saks Department Store Group (SDSG) Proffitt's/McRae's business to Belk, Inc. effective Midnight on July 2, 2005, the sale of SDSG's Northern Department Store Group (NDSG) business to The Bon-Ton Stores, Inc. effective Midnight on March 4, 2006, and the sale of SDSG's Parisian business to Belk, Inc. effective Midnight on September 30, 2006.
marketing@alchempro.com
