U.S. High S & Amp; S Department Lost 2/4 Loss In The Two Quarter

By selling the products at full price, Sax, a chain corporation in the US Department store, lost 2/4 of its losses. This helped to increase the profit margin of its products, but it announced the closure of the other two stores.

Sax said shortly before that, as of July 31st, its quarterly loss was $32 million 200 thousand, with 3 stores closed.

Its revenue grew by 5% to $593 million 100 thousand.

The company's stores, which opened for at least one year, increased quarterly revenue by 4.6%.

Sax expects it to rise two digits in the rest of the year.

In order to resist the economic downturn, Sax has reduced sales promotion activities and actively worked with designers to create new products with lower prices.

Sax said shoes, handbags, women's designer clothes, men's clothing and accessories were doing well this quarter.

The flagship store in New York continues to outperform other stores.

Poorly performing categories include

Two years ago, the company focused on cutting costs and coping with the new economic situation. People were skeptical about procurement.

But Sax said that it is promoting its business development in certain categories and markets.

"This year, we have begun to get rid of the defensive and proceed cautiously and selectively."

He said.

Sax's poorly performing shops have been closed, including 3 months' shops.

Sax announced plans to close his Sax Fifth Avenue store, and the Dezhou store will also be closed, affecting 65 employees.

60 employees, the American California store, will be closed in October.

Sadoff said that for those unprofitable shops and employees who plagued the company, they could choose to go to other stores or leave.