), has partnered with Emmy nominated actress, Kerry Washington,
to add celebrity power to its namesake brand - Saks Fifth
The celebrity has starred in the hit ABC series
Scandal' and will endorse the brand through in-store, online and
on-screen platforms starting Oct 2. Moreover, Saks' several
products and accessories will be sported by Kerry Washington will
be promoted through the upcoming episodes of 'Scandal'.
In return, the New York flagship store of Saks Fifth Avenue
will showcase a window installation of the trends worn by Ms.
Washington's character Olivia Pope in the series.
The partnership is going to be beneficial for the retailer as
the series will familiarize youngsters with Saks' fashion trends
as Olivia Pope sports them.
The company is aiming to boost sales of the Saks Fifth Avenue
by these promotional campaigns. After suffering decline in comps
and poor top line results for several past quarters, Saks has
recently ramped up its marketing and promotional activity
(advertising campaigns and loyalty credit card programs) to boost
sales. Although such promotional campaigns have decreased
merchandise margins, it is expected to drive earnings over the
long term. It has chosen the omni channel retailing in order
boost sales in the coming quarter.
Saks will sell itself to Canada's private retailer Hudson's
Bay, parent of apparel chains like Lord & Taylor's in the
U.S. The deal is expected to be completed by end of calendar
Saks currently holds a Zacks Rank #4 (Sell). Other stocks in
the retail and wholesale sector worth considering are
Citi Trends Inc. (
), Christopher & Banks Corporation (
Limited Brands Inc. (
While Citi Trends and Christopher & Banks carry a Zacks Rank
#1 (Strong Buy)
Limited Brands carries a Zacks Rank #2 (Buy).
CHRISTOPHER&BNK (CBK): Free Stock Analysis
CITI TRENDS INC (CTRN): Free Stock Analysis
L BRANDS INC (LTD): Free Stock Analysis
SAKS INC (SKS): Free Stock Analysis Report
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