Saks Global, impacted by ongoing inventory issues and higher costs, reported top- and bottom-line declines in the second quarter.

Revenue for the quarter ended Aug. 2 fell 11.1 percent to $1.6 billion from $1.8 billion a year earlier. Gross merchandise value totaled $2 billion, down slightly from $2.1 billion in the year-ago quarter.

And the net loss was $288 million compared with $271 million a year earlier, taking the-then separate Saks Fifth Avenue and Neiman Marcus businesses together.

“Our second-quarter sales results were softer than expected, largely due to inventory challenges, and these challenges continued into the third quarter. That said, we are encouraged by the resilience of our concession business, which continues to reflect strong demand from luxury consumers,” said

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