Saks Inc. fell deeper into the red in the second quarter, hurt mostly by the sluggish economy, aspirational customers retrenching and an overall tepid response to ready-to-wear.
Net losses rose to $31.7 million, or 23 cents a diluted share, for the quarter ended Aug. 2, compared with a loss of $24.6 million, or 17 cents a share, in the year-ago period. Revenues dipped 3.6 percent to $669.2 million from $694.1 million, while same-store sales were down 4 percent.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)