Saks April Comparable Store Sales up 2.0%
Retailer Saks Incorporated (NYSE: SKS) today announced that owned sales totaled $259.5 million for the four weeks ended April 28, 2012 compared to $257.3 million for the four weeks ended April 30, 2011, a 0.9% increase. Comparable store sales increased 2.0% for the month.
For April, the strongest categories included women's contemporary and WEAR NOW apparel; dresses; shoes; handbags; and men's accessories, shoes, and contemporary apparel.
This April, the Company excluded cosmetics and fragrances from its Friends & Family discount event; cosmetics and fragrances were offered at a ten percent discount during the April 2011 event. Management estimates that April 2012 comparable store sales would have increased by mid-single digits if cosmetics and fragrances had been included in the event.
For the first quarter ended April 28, 2012, owned sales totaled $743.9 million compared to $713.7 million for the prior year first quarter ended April 30, 2011, a 4.2% increase. Comparable store sales increased 4.8% for the first quarter.
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