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Attention Shoppers

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Sexy fashions are getting Wall Street excited. Case in point – Saks (SKS). This 5th Avenue legend, known for selling scrumptious designer collections, is near a 52-Week High. They say fashion is fickle - does this mean the retailer is overpriced or is premium apparel worth the premium.

Saks Chief Executive Steve Sadove joins the guys for the conversation.

Mr. Sadove explains Saks reported a 10% jump in March in same store sales with handbags and fine jewelry as two of their strongest categories.



He adds that he feels very good about the luxury sector and sees a lot of wealth in the market, plus solid performance in the luxury business across the board, geographically.

Jeff Macke asks how Saks can become a growth company considering its size?

Mr. Sadove draws an analogy – saying he’s in the third inning of this game. SKS has clear strategies and is under-performing as compared to the competitors

How do you increase profits, ask Dylan?

Mr. Sadove says SKS is a third less productive as compared to Neiman Marcus – so he sees a lot of top line growth. And a lot more full price selling.

Jeff Macke adds Neiman just went private – who’s the competition?

Mr. Sardove replies there’s no one competitor. Nordstrom (JWN) is trying to push up – Bloomingdale’s (FD) is also a competitor because Saks competes in high-end luxury as well as accessible luxury.

Dylan asks the guys if they would want to own the stock, today?

Jeff Macke and Guy Adami say yes. Tim Strazzini says this stock is not expensive as compared to its peers. Eric Bolling likes SKS because the international consumer is wealthier because of the weak dollar.

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Questions? Comments? fastmoney@cnbc.com

Trader disclosure:
On APR 23, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Strazzini Owns (EWG), (MER), (NBG), (SNDK) Bolling Owns (NMX), (SZE) Natural Gas, Corn, Gold, Silver; Bolling Is Short Soybeans