5/18/2011

Saks plans to add more higher-priced luxury apparel and other products to its merchandise mix this year amid a cautious optimism spurred by a return of wealthy shoppers willing to pay full price, said CEO Stephen Sadove in a conference call Tuesday. During the downturn, Saks and other high-end retailers added more entry-level luxury products to attract aspirational shoppers. The company also said it expects higher commodity costs to drive up apparel prices 7% to 10% by the end of the year.

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