By  on February 26, 2013

Saks Inc.’s net profits fell sharply in the fourth quarter as Hurricane Sandy disrupted Northeastern markets, although earnings were flat on an adjusted basis and comparable-store sales inched up.

Fourth-quarter net income declined 44.7 percent to $20.4 million, or 13 cents a diluted share, from $37 million, or 21 cents, a year earlier. Excluding special items in both periods, earnings were flat at 17 cents a share — 2 cents higher than the 15 cents analysts projected.

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