Boston, MA 05/22/2013 (wallstreetpr) – The share prices of Saks Inc. (NYSE:SKS) increased by 11.32 percent to close at $13.67 per share, which was $1.39 gain per share over the previous trading day. The trading volume of the company was nearly five times its average trading volume at 12.33 million shares for the day. The department store retailer, Saks Inc. (NYSE:SKS) is engaged in the operations of physical and e-commerce activities of Saks Fifth Avenue stores. The company is an omni channel luxury retailer and offers product choices of fashion apparels, accessories, shoes, gifts and cosmetics.
Strategic Alternatives
Saks Inc. (NYSE:SKS) had recently been considering strategic alternatives to spur the growth of the firm. In order to explore the strategic alternatives, which also includes the proposed sale of the company, Saks Inc. (NYSE:SKS) had recently hired Goldman Sachs Corp. for detailed analysis of the pros and cons of such alternatives. This hiring of the popular analyst to decide on the future direction of Saks Inc. (NYSE:SKS) had led the shares to increase in their prices and witness above average trading volumes for the day.
Saks Inc. (NYSE:SKS) holds market capitalization of $2.05 billion and the average trading volume for the company is at 2.43 million share per day. The department stores retailer had floated its capital through the issue of 150.2 million shares to the equity holders and has an institutional ownership of 64 percent of the total capital. Saks Inc. (NYSE:SKS) had registered 52 week low price of $9.24 per share and the 52 week high price had been readjusted to $13.69 per share in the last trading session.
