UPDATE: Saks Posts Downbeat Q2 Results

Saks

reported a wider second-quarter loss. Saks posted a quarterly loss of $19.6 million, or $0.13 per share, versus a year-ago loss of $12.3 million, or $0.08 per share. Excluding one-time items, it lost $0.10 per share. However, analysts were expecting a loss of $0.08 per share. Its revenue rose 1% to $707.8 million from $704.1 million, versus analysts' estimates of $732.3 million. Its same-store sales increased 1.5%. Saks shares closed at $16.02 on Friday.