US: Saks slips into Q2 loss
Upmarket retailer Saks said it slipped into a loss in its second quarter, partly because revenue fell after it sold the Northern Department Store Group.
Saks also blamed the US$51.9m loss on charges related to stock options, expenses linked to an investigation by securities regulators, and reorganisation expenses..
The company had enjoyed a profit of $8.2m this time last year.
Revenue was down 37% during to quarter, totalling $760.7m compared to $1.21bn a year ago.
For the six months ended 29 July 29, Saks said net income was $26m compared to $24.4m in 2005.
Help test our new apparel sourcing tool.
The following is a general roundup of apparel and shoe chains' January 2007 sales results. The list will be updated as new results become available....
Saks has named Ron Frasch president and chief merchandising officer, effective 5 May upon the retirement of James Coggin as president and chief administrative officer....
The Bon-Ton Stores is closing one of its five distribution centres and taking steps to clarify the branding of the stores it acquired from Saks Inc in the upper Midwest....
The following is a general roundup of apparel and shoe chains' December 2006 sales results. The list will be updated as new results become available....
Dennis Ling has joined Saks Inc as senior vice president and treasurer of Saks Fifth Avenue Enterprises (SFAE)....
An ample increase in same-store sales and the addition of Parisian units helped Belk Inc, the largest privately held department store group in the US, reverse a year-ago loss during the third quarter....
Fashion firm Ermenegildo Zegna has chosen Eleksen Group's ElekTex iPod controls for its Zegna Sport iJacket....
The following is a general roundup of apparel and shoe chains' November 2006 sales results. The list will be updated as new results become available....
- Digitalisation and data to disrupt supply chains
- 3D CAD comes of age
- EU eyes mandatory due diligence for apparel supply
- Unlocks for the future fashion sourcing landscape
- What TTIP might mean for US, EU textiles & apparel
- Li & Fung forms supply chain partnership with PVH
- Big data to help US firms improve clothing fit
- Levi Strauss and ILO probe Cambodia factory death
- US Q4 in brief – G-III Apparel, Finish Line
- Labour rights risk Bangladesh EU trade benefits?
- Central and East Europe Report Package
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Outdoor performance apparel 2016: A broader perspective
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack