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

Selling products at full price, U.S.A Sax, a high-end department store chain corporation, has lost 2/4 of its losses, which has helped to increase the profit margin of its products, but it has 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 Sales promotions have been reduced, and designers actively 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 products include denim, jewelry and contemporary clothing. Chief executive Stephen Sadoff said at a news conference that he had told analysts to call the company, and there will be a plan to solve specific brand and category problems, and 35 local marketing managers have been hired to help promote economic growth. The company's sales staff now have their own business plans to increase sales and consumers to spend more.

Two years ago, the company focused on cutting costs and coping with new problems. Economic situation People are skeptical about purchasing. 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.