Saks CEO: Holiday Season Going Well

Tuesday, 13 Dec 2011 | 6:42 PM ET
Stocking Stuffer: Saks
The luxury retailer is down 16% year to date, but could this present a buying opportunity for investors? Mad Money's Jim Cramer visits the company's flagship store on Fifth Avenue and speaks to Steve Sadove, Saks CEO about how his business is doing.

“Mad Money” host Jim Cramer believes when it comes to consumer spending, we’re in a barbell economy—with the high end and low end thriving. But with the market in turmoil, can that dynamic hold up for the holiday season?

There is nothing more emblematic of high end than Saks and CEO Steve Sadove told Cramer he feels good about what he’s seeing at his stores right now.

“The holiday season’s been going well,” he said. “We got off to a good start. The month of November we’re up nine percent. We’re up 10 percent on the year. So we’re feeling good about the holiday season.”

Sadove said sees strength all across the business, and particularly in shoes, handbags, jewelry, men’s tailored clothing and women’s sportswear.

To see Cramer’s full interview with CEO Steve Sadove, watch the video.

Call Cramer: 1-800-743-CNBC

A previous version of this story included a misspelling of Steve Sadove.

Questions for Cramer? madmoney@cnbc.com

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