Tags: Saks | sandy | storm | sales

Saks: Superstorm Sandy to Limit Holiday Sales Gains

Tuesday, 13 Nov 2012 08:26 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Saks Inc. said on Tuesday it expects sales at stores open at least a year to be flat during the current holiday quarter because of a slow start to November due to Superstorm Sandy.

Saks said Sandy affected stores that account for more than half of its sales.

The department store operator reported net income of $22.6 million, or 14 cents per share, for the fiscal third quarter ended Oct. 27, up from $17.8 million, or 11 cents per share, a year earlier.

Editor's Note: 5 Signs Stock Market Will Collapse in 2013

Sales rose 3 percent to $713.2 million, below the $726.1 million analysts were expecting, according to Thomson Reuters I/B/E/S. Sales at stores open at least year rose 3.3 percent, below the company's own forecasts.

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
You May Also Like
Around the Web

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved