By  on April 28, 2010

LAS VEGAS — Stephen I. Sadove, chairman and chief executive officer of Saks Inc., is cautioning against “overexuberance” as consumer demand and the economy appear to strengthen.

“Make sure you don’t forget the lessons of the recession and get into an overexuberance too quickly.…The single biggest determinant of the business is the stock market and how people feel about their net worth,” Sadove said during a panel discussion at American Express Publishing’s two-day Luxury Summit here. “If this Dow was to go back to 7,000, I think we’d have some real issues....Right now, I feel a sense of optimism…but it’s fragile.”

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