SKS Reports Disappointing Same Store Sales

Saks Inc SKS announced on Thursday a 1% rise in its same-store sales for August. This was much lower than what analysts had been projecting. SKS said its total sales for the month were down to $159.3 million, from $160.7 million in August 2009. The company expects its comparable store sales to grow in the mid-single digit range in the second half. Shares of SKS rose 1.89% to $7.56 at 9:37 am. Read more from Benzinga's Company news.