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Saks Inc

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Saks Inc said fourth-quarter profit rose 26% as the company reduced costs by combining divisions and eliminating jobs. Net income increased to $68.1 million, or 47 cents a share. Sales fell 3.7% to $1.84 billion.

Neiman Marcus Group Inc. said its fiscal second-quarter earnings surged 34% to $32.5 million, or 68 cents a share. Sales rose 3.3% to $938.5 million.

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