U.S. News

Luxury Retailer Saks Sees Strong Spring Season

A Saks Fifth Avenue store in Beverly Hills, California.

Upscale U.S. retailer Saks is bullish for spring sales and sees low double-digit like-for-like growth thanks to brisk business in high-end goods, Chief Executive Stephen Sadove said on Thursday.

"We feel there's good momentum at Saks, we're optimistic for the spring season," Sadove told Reuters at Barcelona's world retail congress.

Saks, operator of Saks Fifth Avenue Stores, sees mid to high single-digit like-for-like sales in the fall season and good sales momentum going forward, said Sadove.