Retailer Saks Incorporated announced that owned sales totaled $248.9 million for the four weeks ended June 2, 2007 compared to $178.5 million for the four weeks ended May 27, 2006, a 39.4% increase. Comparable store sales increased 37.5% for the four-week period.
As previously disclosed, May comparable store sales were positively impacted by a promotional calendar shift. Due to this shift, management expects that June comparable store sales will be negative. Management continues to expect low-double digit comparable store sales growth for the second fiscal quarter.
For May, the strongest categories at Saks Fifth Avenue stores were women's designer sportswear and "gold range" apparel, handbags, women's shoes, and men's shoes and advanced sportswear. The softest categories at Saks Fifth Avenue were designer evening, children's apparel, and fashion jewelry. Saks Direct and Saks Off 5th also performed well for the month.
On a year-to-date basis, for the four months ended June 2, 2007, owned sales totaled $1,034.5 million compared to $854.9 million for the four months ended May 27, 2006, a 21.0% increase. Comparable store sales increased 19.3% for the four-month period.
marketing@alchempro.com
