Saks cuts Q2 loss

NEW YORK — Saks Inc. reported a second-quarter net loss of $8.4 million, or 5 cents per diluted share. For last year’s second quarter, the company posted a net loss of $32.2 million, or 21 cents per share. Revenue rose 13% to $670.2 million from $593.1 million, beating Wall Street's $657.4 million. Same-store sales surged 15.5%, surpassing Saks' expectations. Stephen Sadove, chairman and CEO of the company, noted, “I am very pleased with the significant improvement in our operating performance for the second quarter and six months ended July 30, 2011 which resulted from strong comparable-store sales growth, continued