Sales at Saks lowered by 4.2% in November 2008

Bitten by the economic slowdown, retail sales at Saks has taken a beating. The retailer noted a slide of 4.2 percent in its November sales which amounted to $332.9 million. The company believes that its November 2008 sales have been impacted by the retail calendar shift, with seven fewer post-Thanksgiving shopping days than last year. Its comparable-store sales dipped 5.2 percent in the month.

Sales reflected a preference of women’s designer apparel, handbags, women’s and men’s shoes, and men’s contemporary apparel, over jewellery, which has been a strong category for the retailer during the year until recently.