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Shoppers Paying Full Price Helped Us: Saks CEO

Saks was able to have a profitable holiday shopping season thanks to customers who were not afraid to use computers or pay full price, CEO Stephen Sardove told CNBC Tuesday.

A shopper carries Saks Fifth Avenue bags up Fifth Avenue in New York City.
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A shopper carries Saks Fifth Avenue bags up Fifth Avenue in New York City.

"We feel very good about the holiday season," he said. "We felt very good about how the consumer was reacting. We’re cautiously optimistic going into 2012. As we look at it we saw some of the best full-price selling that we’ve seen over the course of 2011."

Those sales came in different ways at Saks , he said.

"We're very excited about the online business. It’s been growing in the 25 percent range, Sardove said.

"What we’re finding is the customer is thinking in a multichannel manner. They want to buy the product anytime that they want. They’re buying online, looking online, buying in the store," he said.

"We know the multichannel shoppers have the highest propensity to spend, so I think you’re going to see that evolve."

He said the company will continue to seek technology that is "more consumer-centric" to exploit that propensity.