Saks Enjoys Double Digit Rise in Q3 Sales

Saks’ third quarter sales totaled $790 million, a 14.3 percent increase over last year, while comparable store sales increased 11.4 percent. October sales totaled $269.1 million, a 15.9 percent increase. Comparable store sales increased 10.6 percent for the period.

On a year-to-date basis, sales totaled $2,263.6 million compared to $1,965.6 million for the first three quarters of 2006, a 15.2 percent increase. Comparable store sales increased 13.0 percent for the period.

For October, the strongest categories at Saks Fifth Avenue were women's shoes; handbags; fashion and fine jewelry.

The retailer expects comparable store sales growth of “high-single digits in the aggregate for the fourth quarter.”

The Company previously disclosed that, due to the retail calendar shift and promotional adjustments, it expects to see outsized comparable store sales growth in November and below-average comparable store sales growth in December.