Saks CEO sees no reason for discounts amid strong luxury spending

09/11/2011 | Wall Street Journal, The

Luxury retailers worried during the downturn when industry experts wondered whether consumers would ever pay full price again, but upscale shoppers are back and they're not bargain hunting, says Saks CEO Steve Sadove. Saks sales rose 11% in the first half of 2011, the chain has returned to profitability and it has cut way back on discounting.

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Wall Street Journal, The

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