Same-store sales at Saks Inc. decreased 19.8 percent for the five weeks ended Jan. 3, and owned sales decreased 18.
Saks Incorporated, a fashion retail company, operates retail stores under the brand names of Saks Fifth Avenue (SFA), Off Fifth, and Club Libby Lu (CLL) offering a range of luxury fashion apparel, shoes, accessories, jewelry, cosmetics, and gifts. The company generated approximately $2.0 billion in cash from the sales of its department store businesses. Saks operates 53 SFA stores, 48 Off Fifth stores, and 98 CLL specialty stores.
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In response to the deteriorating economic environment, Saks Inc. today announced a series of expense, capital spending...
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