Tough visa rules hurt sales at U.S. luxury chains, Saks CEO says

05/24/2011 | Reuters

Visa rules that make it harder for wealthy foreign tourists to visit the U.S. create a disadvantage for luxury chains here, Saks CEO Steve Sadove said Tuesday. Global tourists account for between 5% and 10% of Saks sales, but the number would be much higher if it were easier for tourists to visit, said Sadove, who has joined efforts by NRF to lobby the White House and State Department in an effort to loosen the rules.

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