News

Saks blames weak footwear and handbag sales for loss

21/08/2013

Saks Inc has reported a worse-than-expected second-quarter loss after disappointing sales of shoes and handbags forced the luxury retailer to mark down prices. Overall sales rose 0.5% to $707.8 million for the quarter which ended August 3, with a net loss of $19.6 million compared with a net loss of $12.3 million a year earlier. It said it had...

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