Saks (SKS) November Same-Store Sales Rise 25.7%
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Saks (NYSE: SKS) said November same-store sales jumped 25.7%, more than doubling Thomson Financial's consensus estimate of an 11.8% increase.
Saks said owned sales for the four weeks ended Dec. 1 rose 26.3% to $347.6 million from $275.3 million a year ago.
The retailer said November sales in stores open at least a year were helped by a calendar shift and promotional adjustments. As a result, it expects December comparable-store sales to be flat to modestly lower. For the fiscal fourth quarter, Saks continues to project same-store sales growth in a high-single digit percentage.
Saks said owned sales for the four weeks ended Dec. 1 rose 26.3% to $347.6 million from $275.3 million a year ago.
The retailer said November sales in stores open at least a year were helped by a calendar shift and promotional adjustments. As a result, it expects December comparable-store sales to be flat to modestly lower. For the fiscal fourth quarter, Saks continues to project same-store sales growth in a high-single digit percentage.
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