As a result, Saks reported net income of $6.3 million, or 4 cents per share, for its fiscal third quarter, ended October 31,instead of a profit of $1.9 million, or 1 cent per share.

For the nine months ended October 31, Saks restated its loss as $53.3 million, or 37 cents per share, rather than the previously reported $57.7 million loss, or 40 cents per share.

Saks shares rose 23 cents, or 3.9 percent, to $6.13 on the New York Stock Exchange.

(Reporting by Phil Wahba; Editing by Steve Orlofsky)