Saks July Sales, Comps Rise

Written by admin on August 2nd, 2012
Summary:

Retailer Saks Inc. Thursday said that owned sales grew 5.1 percent in July, while comparable store sales increased 3.5 percent for the month.

Retailer Saks Inc. Thursday said that owned sales grew 5.1 percent in July, while comparable store sales increased 3.5 percent for the month.

Owned sales totaled $200.7 million for the four weeks ended July 28, 2012, compared to $191.0 million for the four weeks ended July 30, 2011.

The strongest categories in the month included women’s contemporary and designer apparel; men’s accessories, shoes, and contemporary apparel; fashion and fine jewelry; handbags; and cosmetics and fragrances.

The company this month added a one-day Electronic Gift Card or EGC event to its promotional calendar. Management estimates that the additional EGC event positively impacted July comparable store sales by around 200 basis points.

For the second quarter ended July 28, 2012, owned sales totaled $690.6 million compared to $658.1 million for the prior year second quarter ended July 30, 2011, an increase of 4.9 percent. Comparable store sales increased 4.7 percent for the second quarter.

 

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