Saks May Sales Down 8.7%

Saks Incorporated’s owned sales for the four weeks ended May 31 totaled $227.2 million, compared to $248.9 million for the four weeks ended June 2, 2007, an 8.7 percent decrease. Comparable store sales decreased 8.7 percent for the period.

Year-to-date, owned sales totaled $1.081 billion, compared to $1.035 billion for the prior four-month period, a 4.5 percent increase. Comparable stores sales for this period were up 4.3 percent year-over-year.

Saks noted that its May performance was negatively affected by the acceleration of a spring season clearance event into the last week of April this year form the first week of May last year. For the two months combines, comparable store sales increased 8.6 percent.

For May, the strongest categories at Saks Fifth Avenue were men’s contemporary apparel, shoes, and accessories; jewelry and cosmetics and fragrances.