Saks (SKS) Oct Comps Up 10.6%

Saks Incorporated (NYSE: SKS) said October comparable store sales increased 10.6%.

Owned sales totaled $269.1 million for the four weeks ended November 3, 2007 compared to $232.2 million for the four weeks ended October 28, 2006, a 15.9% increase.

Saks said for the third quarter ended November 3, 2007, owned sales totaled $790.0 million compared to $691.1 million for the quarter ended October 28, 2006, a 14.3% increase. Comparable store sales increased 11.4% for the third quarter.

Saks management expects comparable store sales growth of high-single digits in the aggregate for the fourth quarter. The Company previously disclosed that, due to the retail calendar shift and promotional adjustments, it expects to see outsized comparable store sales growth in November and below-average comparable store sales growth in December.

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