Saks April sales rise sharply on promotional activity

The result easily beat estimates on Wall Street, where analysts expected a gain of 1.1 percent, according to Thomson Financial.

Same-store sales is a closely watched indicator of retail performance because it measures growth at existing stores rather than newly opened ones.

Saks said the gains came on an increase in discounts that drove sales of women's designer clothes, men's clothes and shoes and jewelry.

The company's total sales in the four weeks ended May 5 climbed 24.3 percent to $349.7 million from $281.3 million last year.

The strongest categories at Saks Fifth Avenue were women's designer and so-called "gold range" apparel, men's apparel and shoes, jewelry, women's shoes, and handbags, the company said.

The weakest categories were women's classic bridge apparel and women's petites and large sizes, Saks said.

For the quarter ended May 3, same-store sales climbed 8.4 percent, and total sales rose 8.6 percent to $853.4 million.