Seeking Alpha

Saks Incorporated (SKS)

SKS is defunct.
  • Nov. 19, 2012, 8:51 AM
    Saks (SKS) looks to increase its promotional activity this holiday season with higher-end goods already being advertised at 40% off. The retailer will also offer consumers sales personnel equipped with the ability to cut further deals. Part of the impetus for Saks' aggressive Black Friday markdowns could be a need to clear inventory after Hurricane Sandy impacted stores repping close to 40% of its revenue.
    | Nov. 19, 2012, 8:51 AM | Comment!
  • Nov. 13, 2012, 8:14 AM
    More on Saks' (SKS) Q3: Same-store sales up a modest 3.3% for the quarter. Gross margin slipped 30 bps Y/Y to 43.9%, due primarily to a small pickup in promotional activity. The retailer notes "soft" sales trends during the first two weeks of November with Hurricane Sandy a major consideration. Sees flat comparable-store sales growth in Q4. (PR)
    | Nov. 13, 2012, 8:14 AM | Comment!
  • Nov. 13, 2012, 8:05 AM
    Saks (SKS): Q3 EPS of $0.12 in-line. Revenue of $713.2M (+3% Y/Y) misses by $13M. (PR)
    | Nov. 13, 2012, 8:05 AM | Comment!
  • Nov. 13, 2012, 12:05 AM
    Notable earnings before Tuesday’s open: ACM, AUQ, CEL, DKS, HD, KORS, SKS, TJX
    | Nov. 13, 2012, 12:05 AM | Comment!
  • Nov. 12, 2012, 5:30 PM
    Notable earnings before Tuesday’s open: ACM, AUQ, CEL, DKS, HD, KORS, SKS, TJX
    | Nov. 12, 2012, 5:30 PM | Comment!
  • Nov. 11, 2012, 2:05 AM
    A New York judge gave preliminary approval on Friday to Visa's (V) and MasterCard's (MA) proposed $7.25B settlement with retailers over the fixing of swipe fees on credit cards. The authorization came despite the opposition of trade groups and about 1,200 retailers, including Target (TGT), Wal-Mart (WMT), Home Depot (HD) and Saks (SKS). The deal still needs final approval.
    | Nov. 11, 2012, 2:05 AM | 3 Comments
  • Nov. 2, 2012, 7:56 AM
    The recent mix of economic news and retail sales reports sets the table for a holiday retail season that will come in better than original forecasts, according to IHS Global Insight. What to watch: While Hurricane Sandy is only an "interruption" to retailers on a strong growth track and an "excuse" for underperformers, two potential drags on Q4 retail sales could be a fiscal cliff that doesn't get resolved or a national election that is in dispute.
    | Nov. 2, 2012, 7:56 AM | 1 Comment
  • Oct. 31, 2012, 10:04 AM
    Mall-based retailers and department stores are holding up relatively well in early trading after the effect of Hurricane Sandy was lined up as a major Q4 headwind. The trick now is to figure out which retail firms can recover lost sales. Two notables exceptions to the subdued trading pattern - J.C. Penney (JCP -4.8%) and Sears (SHLD -6.5%) - had a slightly higher percentage of stores in the path of Hurricane Sandy than the average in the sector.
    | Oct. 31, 2012, 10:04 AM | 12 Comments
  • Oct. 30, 2012, 10:02 AM
    Forecasts on the effect of Hurricane Sandy on retail sales still vary greatly, although the general consensus is that a short-term boost of emergency items will lift sales for select companies while the prolonged cleanup could dampen overall holiday sales. Analysts see the list of losers much longer than the list of winners as home repairs take up a great deal of discretionary spending. In a nutshell: Every retailer has a different Sandy-related thesis, with product and geographic mix essential to estimating Q4 numbers.
    | Oct. 30, 2012, 10:02 AM | 2 Comments
  • Oct. 26, 2012, 11:10 AM
    Though consumer sentiment rose to its highest level in five years, don't look for retailers to start adjusting guidance anytime soon. In an interview with CNBC yesterday, AutoNation CEO Mike Jackson gave a somewhat frank assessment of how many execs are looking toward Q4 by noting the fiscal cliff could create a standstill to spending over the last ten days of the year as the automatic cuts slated for January 1 loom larger. Even if a late deal is struck, Q4 sales could take a blow. (video)
    | Oct. 26, 2012, 11:10 AM | 7 Comments
  • Oct. 22, 2012, 1:14 PM
    Retailers want to edge into the holiday shopping season as early as possible this year with most forecasts calling for steady - but not spectacular - spending numbers. Trends to watch: 1) Increased online couponing and promotional activity from fringe players. 2) Managing inventory should be easier with the season starting early and big data initiatives firing up which could help margins. 3) The calendar comes through for retailers with a lush 32-day window between Thanksgiving and Christmas extending the crucial part of the season.
    | Oct. 22, 2012, 1:14 PM | 2 Comments
  • Oct. 4, 2012, 3:31 PM
    Chinese spending in Hong Kong during this year's (currently ongoing) Golden Week holiday is expected to fall at least 10% Y/Y, according to the Travel Industry Council. "The macroeconomic situation is dreadful," an analyst. "The number of big-ticket transactions has shrunk."
    | Oct. 4, 2012, 3:31 PM | Comment!
  • Oct. 4, 2012, 7:57 AM
    The vibe flowing out of September sales reports from retailers is largely positive with big names such as Costo and Limited Brands showing brisk sales, while teen seller Zumiez (ZUMZ) knocked it out of the park with 18.6% growth. Although back-to-school season numbers look to be beating expectations, the best gift for retail investors may be when Q3 reports roll in with companies showing improved margins as clearance sales were avoided and inventory controls clicked.
    | Oct. 4, 2012, 7:57 AM | Comment!
  • Oct. 2, 2012, 6:45 AM
    The National Retail Federation expects holiday sales to rise 4.1% to $586.1B this year. Though the mark would rep the slowest pace of growth since 2009, the forecast is still higher than the average growth of 3.5% realized over the last ten years for the November to December period. Online retail is still a bright spot, with holiday sales expected to rise 12% this year to $96B.
    | Oct. 2, 2012, 6:45 AM | 9 Comments
  • Oct. 1, 2012, 1:46 PM
    Citigroup analyst Deborah Weinswig advises retailers to keep a sharp focus on online initiatives despite the staggering growth numbers bandied about for mobile and social networking sales. Estimates from Forrester Research indicate online retail sales will surge to $327B by 2016 - a mark that is estimated to be 10X greater than what smartphone sales will generate. A roadmap for retailers: Adopt a clever omnichannel strategy that produces synergistic benefits to complement online and brick-and-mortar businesses instead of poaching sales with hyper-aggressive mobile promotions.
    | Oct. 1, 2012, 1:46 PM | Comment!
  • Sep. 27, 2012, 12:44 PM
    Young shoppers are the force behind the rapid growth of showrooming with their grasp on how to use mobile devices to find the best deals, according to research by AlixPartners. Naturally, Amazon (AMZN +2.2%) appears to be a beneficiary of the trend, but brick-and-mortar retailers could have a secret weapon. A retail brief published by Aimia suggests that the very same savvy young shoppers who make showrooming a force of habit are also the most loyal reward program participants. The end game: A loyalty program with soft benefits could steal Amazon's thunder.
    | Sep. 27, 2012, 12:44 PM | 2 Comments
Company Description
The operations of Saks Incorporated, a Tennessee corporation first incorporated in 1919, and its subsidiaries (together the “Company”) consist of Saks Fifth Avenue (“SFA”), Saks Fifth Avenue OFF 5TH (“OFF 5th”), and SFA’s e-commerce operations. Previously, the Company also operated Saks... More
Sector: Services
Country: United States