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Financial News Network
July 07, 2011 AT 11:06 PM
Saks Inc. (NYSE:SKS) said that its June sales at stores open at least one year rose 11.9%. Analysts had expected same-store sales to rise 7%.The company said total sales for the five weeks ended July 2 were up 8.7% to $258.6 million.Saks has a potential upside of 2.4% based on a current price of $11.64 and an average consensus analyst price target of $11.92.