NEW YORK — Saks Inc., boosted by affluent consumers spending more amid Wall Street gains, posted a strong third quarter and sees the trend continuing in the fourth quarter.
“I don’t think people are euphoric, but luxury has substantially improved, coming off a lower base,” Saks chairman and chief executive officer Stephen I. Sadove told WWD on Tuesday. “We are seeing more full-price selling. There have been less promotions. People are feeling OK. It’s a much more stable environment.”
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"