Saks blames weak handbag and footwear sales for loss
20/08/2013
Overall sales rose 0.5% to $707.8 million for the quarter which ended August 3, with a net loss of $19.6 million compared with a net loss of $12.3 million a year earlier.
It said it had built up too much inventory of men's and women's shoes and handbags and had to slash prices to clear unsold merchandise.
Share this story:
