said December same-store sales dipped 0.4%, reflecting the poor performance of its Off 5th stores.
The Birmingham, Ala., company said comparable sales at its luxury Saks Fifth Avenue stores fell 3.1% from the same period a year ago, due in part to a softer sales performance from apparel, men's furnishings and fine jewelry. The department store group, which includes 252 Proffitt's, McRae's, Younkers and other stores, reported same-store sales growth of 1% for the month.
Separately, Saks announced plans to close its 60,000 square foot Younkers store in Bettendorf, Iowa. The company expects to close the store at the end of the month, when the lease ends.
Shares of Saks recently rose 19 cents, or 1.8%, to $10.81 in trading on the
New York Stock Exchange