- Saks Fifth Avenue’s Off 5th to up store count in 2011
- Macy’s, Saks and J.C. Penney beat Street in July, Kohl’s disappoints as sales fall
- Retailers turn in mixed results for May; Costco, Macy’s and Saks shine
- October sales generally up, but short of estimates; Buckle leads apparel
- Saks to close Denver store
New York City -- Saks returned to profitability in its fiscal fourth quarter as the chain sold more items at full-price and used fewer promotions. The company reported net income of $25 million for the period ended Jan. 29, compared with a loss of $4.6 million a year earlier.
Revenue rose 7% to $866.3 million, topping Wall Street's estimate of $854.4 million. Same store sales were up 8.4%.