Saks reports same-store sales up 5.8% year-over-year in April, owned sales up 4.2% to US$257.3M with women's contemporary, designer evening apparel, men's apparel among strongest categories
May 5, 2011
– Retailer Saks Incorporated (NYSE:SKS - News) today announced that owned sales totaled $257.3 million for the four weeks ended April 30, 2011 compared to $246.9 million for the four weeks ended May 1, 2010, a 4.2% increase. Comparable store sales increased 5.8% for the month.
For the first quarter ended April 30, 2011, owned sales totaled $713.7 million compared to $656.8 million for the prior year first quarter ended May 1, 2010, an 8.7% increase. Comparable store sales increased 10.2% for the first quarter.
For April, the strongest categories at Saks Fifth Avenue stores included women’s contemporary and designer evening apparel, men’s apparel, women’s and men’s shoes, handbags, and fragrances. Saks Direct performed well during the month.
The Company’s four-day spring season Friends & Family event took place entirely in fiscal April last year. In the current year, three days of the Friends & Family event took place in fiscal April and one day took place in fiscal May, which negatively impacted April sales and is expected to positively impact May sales. Adjusting for this event shift, management estimates that April 2011 comparable store sales would have increased in the high-single digit range.
Saks Incorporated operates 46 Saks Fifth Avenue stores, 57 Saks OFF 5TH stores, and saks.com.
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