Saks Loses $42.4M in 2Q

Saks Inc., Birmingham, AL, said late Tuesday that its second-quarter loss worsened compared with last year, an occurrence that matched the company’s lowered estimates.

Its loss totaled $42.4 million, compared with a $4.8 million loss for the quarter last year.

The loss included after-tax e-commerce losses of $4.3 million.

Sales for the quarter dropped 8.5 percent from $1.39 billion to $1.27 billion. Same-store sales were down 6.8 percent.

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