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Saks' Sale Falls Flat

Saks Inc. (SKS), the luxury retailer, reported weak earning today. It announced net loss of $19.6 million or 13 cents per share. Saks's revenue is up by 1% to $707.78 million from $704.1 million but below the expectation of $732.3 million. Same store sale was increase 1.5%. The revenue is down because it was delaying to start its spring clearance. It seems like people really aware about their spending because it's not only Saks that sale slide but as you see that Ralph Lauren, Coach, Macy's and Walmart all reported weak sale so I think overall depends on the economy if the Fed can solve the weak economy, all the sale probably going better over time.