Saks Incorporated (NYSE:SKS) shares are currently trading at $11.12, a drop of 1.77% from previous closing price of $11.32. The company’s shares have 52-week trading range of $12.22 – $5.80. The stock is trading at volume of 3.01 million shares. The market capitalization of the company is $1.78 billion. The 1-year target estimate is $9.35.
Recently, the company announced owned sales totaled $233.9 million for the four weeks ended October 30, 2010 compared to $219.9 million for the four weeks ended October 31, 2009, a 6.4% increase. The comparable store sales increased 8.1% for the month.
For the third quarter ended October 30, 2010, owned sales totaled $649.6 million compared to $622.7 million for the quarter ended October 31, 2009, a 4.3% increase. The comparable store sales increased 5.7% for the quarter.
On a year-to-date basis, for the nine months ended October 30, 2010, owned sales totaled $1,889.8 million compared to $1,794.3 million for the nine months ended October 31, 2009, a 5.3% increase. The comparable store sales increased 5.5% for the nine months.
The October comparable store sales were modestly positively impacted by an event shift from November last year; management estimates that the company would have still posted mid-single digit comparable store sales increases for October and the third quarter of 2010 absent the event shift. The management continues to expect comparable store sales growth in the mid-single digit range for the second half of the fiscal year in the aggregate.
Saks Incorporated is a fashion retail organization offering a range of distinctive luxury fashion apparel, shoes, accessories, jewelry, cosmetics and gifts.
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