Luxury department store
) has reported positive same-store sales and total sales for the
month of June 2012.
MACYS INC (M): Free Stock Analysis Report
SAKS INC (SKS): Free Stock Analysis Report
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Women's shoes, cosmetics and fragrances and men's private brands,
tailored clothing, and shoes contributed to the decent sales
Saks' comparable-store sales increased 6.0% in June, with total
sales for the five weeks ended June 30, 2012 also climbing 6.0% to
$274.0 million. The comparable sales growth for the month of June
2012 was within the mid-single digit guidance range for the second
For the two months ended June 30, 2012, total sales climbed 4.9%
year over year to $489.8 million and comparable store sales went up
5.1% year over year during the same period.
) also performed well in the month of June 2012. Macy's total sales
grew 0.8% year over year to $2.4 billion for the five-week period
ended June 30. Same-store sales rose 1.2% year over year for the
Saks is reporting decent same-store sales for the past few
quarters. This implies that the demand for its lifestyle
commodities is high among its customers and positive customer
traffic is being decently converted into purchases. However, we
remain concerned about the ever-changing demands of the consumers,
increased volatility in the financial markets and the overall
uncertainty in the macro-economic environment.
Headquartered in New York, Saks Incorporated, along with its
subsidiaries, operates traditional and luxury departmental stores
in the US through Saks Fifth Avenue stores, Saks Fifth Avenue OFF
5th stores and Saks Fifth Avenue ecommerce operations, known as
Currently, we have a long-term Neutral recommendation on Saks,
which carries a Zacks #3 Rank (short-term Buy rating).