Saks Comparable Store Sales Increase 2.4% but Total Sales Drop 15%

Retailer Saks Incorporated released its sales figures for the five weeks ended December 31 and announced that while December comparable stores sales were up 2.4 percent, total sales decreased by 15 percent, from $1,056.3 million, to $898.4 million.

For the November – December period, total sales decreased by 14.8 percent, from $1,692.2 million to $1,441.9 million.

Comparable store sales increased 2.0 percent for the eleven month period, though total sales decreased 7.3 percent, from $6,033.2 million to $5,595.1 million.

To boost December sales, Saks brought forward their store-wide merchandise clearance event, which typically begins on December 26 to December 21.

Fashion jewelry was among the softest performing categories for the Saks Fifth Avenue Enterprises (SFAE) in December.