On Wednesday, luxury department store retailer Saks
- Total sales grew 17% as same-store sales improved a fashionable 9.9%. Also, the company just reported February comps of 24.7%, partially explaining the nice boost in the share price today.
- Diluted earnings were positive for the quarter but included a number of charges, including those related to the sale of the Saks Department Store Group to Bon-Ton
(NASDAQ:BONT)and Belk. This year's quarter also included an extra week, adding an estimated $0.06 in earnings.
- Going forward, management is projecting "comparable store sales growth of low double digits in the spring and mid-to-high single digits in the fall."
- Saks only carries a two-star rating in the Motley Fool CAPS intelligence database -- the same as Federated
(NYSE:FD)-- while archrival Nordstrom (NYSE:JWN)has a three-star rating, as does J.C. Penney (NYSE:JCP). Feel free to head to CAPS and tell us what you think about these companies and more.
(Figures in thousands, except per-share data)
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Fool contributor Ryan Fuhrmann has no financial interest in any company mentioned. Feel free to email him with feedback or to discuss any companies mentioned further. The Fool has an ironclad disclosure policy.