reported fourth-quarter earnings Tuesday that met Wall Street's slightly raised estimates.
Excluding certain items but including a 5-cent-a-share loss on e-commerce operations, Saks earned $104.1 million, or 73 cents a share, down from $141 million, or 98 cents a share, in the year-ago period. Sixteen analysts surveyed by
First Call/Thomson Financial
expected the luxury retailer to earn 73 cents a share.
Saks posted fourth-quarter revenue of $2.12 billion, up from $2.04 billion in the same period one year ago.
Last week, Saks reported a
same-store sales decline of 1.3% in February, but said total sales for the month remained flat with the year-ago period.