Saks’ sales take a dip

Saks Inc. has experienced a fall in its productivity, spanning various time intervals. In September 2008, its total sales dipped by 11.1 percent to $273.2 million, and its same-store sales saw a decrease of 10.9 percent. Within its product bracket, jewellery, perfumes and cosmetics generated the highest sales.

For the quarter to date period, the sales slid by 9 percent amounting to $473.7 million. For the fiscal year to date sales slipped less than 1 percent to $1.992 billion. For the second half of the year, the company expects its sales to present a single-digit decline.