UBS Maintains a 'Neutral' on Saks Inc. (SKS); Trimming More Unprofitable Stores

UBS maintains a 'Neutral' on Saks Inc. (NYSE: SKS) price target of $12.00.

Analyst, Michael Binetti, commented after a recent press release, stating the company would close two stores (Highland Park, IL and Austin, TX) was released on Sept. 5th.

Steve Sadove, Chairman and Chief Executive Officer of Saks, commented, "We routinely assess the productivity, profitability, and potential of each of our stores and may conclude closings are necessary from time to time. These planned closings are consistent with our strategy of employing our resources in our most productive locations."

For an analyst ratings summary and ratings history on Saks Inc. click here. For more ratings news on Saks Inc. click here.

Shares of Saks Inc. closed at $11.61 yesterday.

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