Wednesday, August 19, 2009

Saks Sales Sink
According to Luxist there is some bad news for Saks Fifth Avenue. Saks has released its second quarter results beating analysts' expectations by posting a loss of $54.5 million, or 39 cents per share on sales of $561.7 million. Same store sales were down 15.5 percent. And a recent AP story said that the less-expensive Off 5th stores are doing better than Saks' full-price stores. Get the full skinny HERE.

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