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Saks Incorporated (SKS)

SKS is defunct.
  • Sep. 25, 2012, 1:14 PM
    Toys R Us Chairman Jerry Storch makes the case on Squawk Box that brick-and-mortar stores won't go away anytime soon, but will morph into mini-distribution centers. The line of thought follows a recent trend by retail players of using existing stores as fulfillment centers and showcasing more extensive pick up options to online buyers. The end game: Retail stores see a competitive advantage over Amazon if they can deliver products faster as they still dream about ultimately offering the holy grail of online shopping - same-day delivery.
  • Sep. 17, 2012, 1:31 PM
    A profit warning from Swedish clothing seller Hennes & Mauritz (HMRZF.PK, HNNMY.PK) appears to have crossed the pond to taint select retail names in the U.S. Foreign exchange headaches and unseasonably warm weather contributed to a 4% decline in H&M's same-store sales after analysts had called for a gain, raising some questions on the sector only a week after Burberry's own warning rattled luxury names. Feeling the heat: NWY -2.7%, CBK -2.2%, BODY -1.6%, BONT -1.8%, SKS -2.5%.
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  • Sep. 13, 2012, 10:21 AM
    The online retail battle heats up: High-end seller Neiman Marcus posts strong FQ4 results with comparable-store sales up 7.9% and revenue improving 9.3% Y/Y to cross over $1B. The most interesting tidbit from the report is that online sales at the private company - now repping close to 20% of total sales - are still growing at a healthy clip. It's a trend that Saks (SKS -0.3%), Macy's (M -1%), and Nordstrom (JWN -1.7%) will be watching closely.
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  • Sep. 12, 2012, 7:07 AM
    ShopperTrak forecasts retail holiday traffic will rise this year for the first time since 2007 with shopping trends looking positive. The data firm sees U.S. retail sales up 3.3% Y/Y and foot traffic gaining 2.8% for the holiday period.
  • Aug. 30, 2012, 1:55 PM
    Today's round of strong sale reports from major retailers may give firms the confidence to hold back on more promotional activity heading into the holiday season, according to AlixPartners. One promising trend is that shoppers stepped out to buy bolder, more fashion-oriented lines - instead of just replenishing the basics. With the retail table now set for a strong Q3 as the back-to-school season roars to a powerful start, optimism starts to creep up that consumers might even keep the good vibes going right through the crucial holiday period.
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  • Aug. 30, 2012, 11:06 AM
    Saks (SKS -0.4%) CEO Steve Sadove wants to change the impression with consumers that the retailer is a promotional department store by cutting the number of items on sale. The retooling of philosophy comes against a backdrop that close to 80% of Saks sales are generated by just 20% of its customers. It's also a somewhat brave move to take on, with this year's change in direction at J.C. Penney away from discounting causing a widespread exodus of shoppers from JCP stores.
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  • Aug. 23, 2012, 11:45 AM
    Mexican magnate Carlos Slim shed 1.5M shares of Saks (SKS -1.9%), according to a SEC filing (Form 4). The investor still holds a position just north of 25M shares.
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  • Aug. 15, 2012, 11:48 AM
    It's the shoes, stupid: Extremely lush margins and brisk demand on fashionable lines of shoes has department stores aggressively adding floor space and creating new varieties to sell. Behind the rush is an emerging trend of women to accessorize their outfits around their shoes, instead of vice-versa. By trimming a couple of inches off of high heels, designers have also been to appeal to a broader segment of customers. Looking to pump profits: M, SKS, JWN, as well as private players Barney's and Neiman Marcus.
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  • Aug. 14, 2012, 10:38 AM
    Saks (SKS +5.3%) announces that it will be the latest retailer to step out of the practice of reporting monthly comparable store sales totals. While analysts fret over the lack of directional data to chew on in general, the uncertainty over trends at Saks pushes angst even higher than normal.
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  • Aug. 14, 2012, 8:16 AM
    More on Saks (SKS): Same-store sales up 4.7% Y/Y - led by strength in contemporary apparel, fashion and fine jewelry, and shoes. SG&A expenses up 20 bps to 27.1% of sales as tech spending increased. Reaffirms previous guidance, including comparable store sales growth in the mid-single digit range for H2. Shares +0.5% premarket. (PR)
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  • Aug. 14, 2012, 8:05 AM
    Saks (SKS): Q2 EPS of -$0.05 beats by $0.04. Revenue of $704M (+5.1% Y/Y) in-line. (PR)
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  • Aug. 14, 2012, 12:05 AM
    Notable earnings before Tuesday’s open: HD, TJX, KORS, CEL, AG, VELT, KITD, EL, DKS, SKS, VAL, ENG
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  • Aug. 13, 2012, 5:30 PM
    Notable earnings before Tuesday’s open: HD, TJX, KORS, CEL, AG, VELT, KITD, EL, DKS, SKS, VAL, ENG
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  • Aug. 2, 2012, 10:27 AM
    The sweet spot for retail appears to be mid-priced stores such as Saks (SKS -0.5%), Gap (GPS +8.4%), Nordstrom (JWN +0.9%), Macy's (M +4.5%), and Kohl's (KSS +2.0%) as July numbers indicate that some consumers passed on by luxury stores, bargain stores, and specialty names. If the trend continues into the stronger back-to-school months of August and September, Q3 numbers could surprise for the sub-sector.
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  • Aug. 2, 2012, 8:35 AM
    Saks (SKS) same-store sales: +3.5% misses consensus of +4.0%. Total sales +5.1% to $200.7M. (PR)
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  • Jul. 18, 2012, 8:45 AM
    Goldman Sachs downgrades Saks (SKS) to Sell from Neutral and sets a price target of $9. It's not a broad sector move by the firm after it upgraded Tiffany earlier, but a move tied to what it calls "slowing fundamentals" at Saks against a tough macro backdrop. Shares -2.9% premarket.
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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