Saks' loss widens; sales lag at some stores
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Saks Inc. said its second-quarter loss widened to $28.9 million because sales lagged at its lower-priced department stores. The net loss widened to 20 cents a share from $25.8 million, or 18
cents a share, a year earlier, the Birmingham, Ala.-based company said. Sales rose 9.2% to $1.35 billion, led by a 19% gain at luxury chain Saks Fifth Avenue. Shares of Saks fell 20 cents
to $12 on the NYSE. MORE TO READ