Saks (SKS) Reports October 2009 Store Sales, Comps Up

November 5, 2009 8:35 AM EST

Saks Incorporated (NYSE: SKS) today announced that owned sales totaled $219.8 million for the four weeks ended October 31, 2009 compared to $216.0 million for the four weeks ended November 1, 2008, a 1.8% increase. Comparable store sales increased 0.7% for the month.

For the third quarter ended October 31, 2009, owned sales totaled $622.7 million compared to $682.0 million for the third quarter ended November 1, 2008, an 8.7% decrease. Comparable store sales decreased 10.1% for the quarter.

On a year-to-date basis, for the nine months ended October 31, 2009, owned sales totaled $1,794.3 million compared to $2,175.3 million for the nine months ended November 1, 2008, a 17.5% decrease. Comparable store sales decreased 18.5% for the nine-month period.

Management continues to estimate that comparable store sales will decline in the mid-to-high single digit range in the aggregate for the second half of fiscal 2009.

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