SAKS SIGNALS GROWTH AMID VOLATILITY

LUXURY US department store operator Saks forecast same-store sales growth and better margins for the rest of the year even as the volatile financial markets give it reason to be cautious about autumn sales. Saks forecasted that same-store sales would rise by a mid-to-high single-digit percentage in the second half of the fiscal year, which includes the holiday season, when Saks gets 30 per cent of its annual sales.