Saks Q1 Comparable Sales Up 14.4%

Retailer Saks owned sales totaled $281.3 million for the four weeks ended May 5, compared to $248.7 million for the four weeks ended April 29, 2006, a 13.1% increase. Comparable store sales increased 11.7% for the four-week period.

For the first quarter, owned sales totaled $785.6 million compared to $676.4 million for the quarter ended April 29, 2006, a 16.1% increase. Comparable store sales increased 14.4% for the first quarter.

For the second fiscal quarter, management expects low-double digit comparable store sales growth. Due to an unspecified promotional shift, the company expects May comparable store sales to considerably exceed that range, with June comparable store sales to fall below it.