Retail Industry
Industry: Email Alert RSS FeedSaks stock closes down on 2d day.(Saks Holdings)(Brief Article)
Daily News Record, May, 1996
NEW YORK (FNS) - The stock of Saks Holdings, which arrived on the market Wednesday amid much fanfare and buying excitement, cooled a bit Thursday in a generally sloppy market.
Saks closed at 32 1/2, down 2 1/8, after trading as high as 34 1/8 and as low as 32. Volume was an active 2.7 million shares.
Overall, the Dow Jones Industrial average lost 15.88 points to close at 5,762.12. Despite the market dip, Gucci continued its climb adding 3/8 to 72 3/4. Loehmann's, another hot new issue, moved up 15/16 to 25 3/16 Thursday in over-the-counter trading.
Sak Holdings, the holding company for Saks Fifth Avenue, was priced Tuesday night at 25, but trading was delayed about an hour and a half because of an imbalance of buyers and sellers. It finally opened...
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