Tuesday, November 15, 2005


Profits from Katrina

Insurance, at least. And who knew that Saks Fifth Avenue was based in Birmingham?

BIRMINGHAM, Ala. (AP) — Birmingham-based Saks beat analysts' estimates by reporting a slight profit for the third quarter. The department store chain reported net income of $200,000. That was partly due to a $10 million gain linked to the estimated insurance settlement from the Saks Fifth Avenue store in New Orleans that was damaged by Hurricane Katrina.

Saks is in Birmingham?? Doesn't seem so chic any more does it.

J. Ryan
Post a Comment

<< Home

This page is powered by Blogger. Isn't yours?