Saks June sales up by 1.9%

Retailer saw increase in sale of jewellery and luxury products
Saks June sales up by 1.9%

Jewellery retailer Saks Inc. has reported an increase of 1.9 percent in its same-store sales for the period of five weeks ended-July 5. Its owned sales scaled up by 2.6 percent to $243.8 million, while last year was $237.6 million for the same period. The major contribution for increase in sales for Saks Fifth Avenue came from men's contemporary apparel, sportswear and shoes; jewellery; accessories; and cosmetics and fragrances. Saks Direct and Saks Off 5th also performed well for the month.

For the two-month second quarter ended July 5, the same-store sales showed a dip by 3.5 percent, and owned sales of 3.2 percent.

On a year-to-date basis, in the said term, same-store sales increased 4 percent, and owned sales by 4.2 percent to $1,325.6 million, while in the same period last year the same-store sales were $1,272.1 million. The sales performance was affected by the spring season clearance event into the first quarter this year from the second quarter last year.

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