Saks CEO: Don't bank on deep discounts

10/12/2009 | Reuters

Saks Fifth Avenue won't be discounting as steeply as it did last holiday season, CEO Steve Sadove said. The luxury retailer is stocking less inventory this season, keeping in line with its strategy to keep luxury exclusive. "That's what luxury retailing is about. It is about limited distribution (and) limited availability," Sadove said.

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