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Saks Stock Gains on Down Day for Market

Shares of luxe retailer up 3.6 percent ahead of earnings Tuesday.

Saks Fifth Avenue

Shares of Saks Inc. showed some spark today ahead of first-quarter results, which are due out Tuesday morning.

Saks gained 3.6 percent to $12.28 — the stock’s best close since March 2011. Analysts project the company’s adjusted earnings for the quarter will be flat at 19 cents a share on a 3.3 percent gain in sales to $778.5 million.

The stock bucked the general trend in what was a quiet day in the market, which is still near its all-time high. The S&P 500 Retailing Industry Group fell 0.1 percent, or 0.47 points, to 793.03, and the Dow Jones Industrial Average also slipped 0.1 percent, or 19.12 points, to 15,335.28.

The day’s decliners included The Bon-Ton Stores Inc., down 2.8 percent to $18.62; The Jones Group Inc., 1.3 percent to $14.92, and Amazon.com Inc., 0.8 percent to $267.63.

In Europe, most markets gained ground. London’s FTSE 100 rose 1 percent to 6,755.63, as Frankfurt’s DAX increased 0.7 percent to 8,455.83 and Paris’ CAC 40 gained 0.5 percent to 4,022.85. Milan’s FTSE MIB fell 0.6 percent to 17,506.87.

The gainers included Safilo Group, 2 percent to 13.89 euros; Salvatore Ferragamo, 1.7 percent to 24.84 euros; Mulberry Group, 1.6 percent to 9.50 pounds, and Brunello Cucinelli, 1.2 percent to 17.10 euros.

The pound traded for $1.53 against the dollar while the euro fetched $1.29.