Companies from Saks Inc. to Best Buy Co. are growing more confident that the recent revival of consumer spending is more than just a blip.
New-York based Saks is “moving from defense to offense,” selectively rebuilding inventory and increasing investment as consumers “come out of their shell,” Stephen I. Sadove, chairman and chief executive officer of the luxury retailer, said in a March 24 e-mail. Same-store sales at Best Buy rose 7.4 percent in the U.S. during the fourth quarter, the Richfield, Minn.-based electronic retailer said March 25.
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