New York-based Saks Inc. (NYSE: SKS), the operator of Saks Fifth Avenue department stores, reported that its fourth-quarter profit almost doubled, helped by solid sales, cost controls, and one-time gains.

Earnings came to $39.5 million, or 26 cents per share, during the period that ended February 2, compared with $21.5 million, or 14 cents per share, in the same period of the prior year. Sales rose almost 5% to $999.7 million in the fourth quarter. Analysts had expected EPS of 20 cents on revenue of $993.61 million, according to a survey by Thomson Financial.

For the year, Saks earned $47.5 million, or 31 cents per share, compared with $53.7 million, or 40 cents per share, a year earlier. Sales rose to $3.28 billion, almost 12% higher than the previous year.

"I remain very positive about the long-term prospects for the luxury sector and specifically for our Saks Fifth Avenue business, " said Chief Executive Stephen Sadove. However, privately-held Neiman Marcus Inc., which reported fiscal second-quarter results today, saw only a modest rise of 8% in profits and 6% in revenue.

Shares of Saks rose about 2%, or 30 cents, in morning trading, but had fallen below the open of $16.01 by mid-day.

Casino operator Trump Entertainment Resorts Inc. (NASDAQ: TRMP) reported that its fourth-quarter loss widened, largely because of goodwill and other asset impairment charges. That loss was $183.2 million, or $5.89 per share, compared with a loss of $9.7 million, or 31 cents per share, in the prior year. Revenue for the period slipped 6% to $228.6 million. Analysts surveyed by Thomson Financial had expected a loss of only 40 cents per share on revenue of $229.2 million.

For the year, Trump Entertainment reported a loss of $198.2 million, or $6.38 per share, compared to a loss of $18.5 million, or 60 cents per share, a year ago. Annual sales fell to $988.2 million from $1.03 billion.

Trump Entertainment shares had fallen about 7% by mid day, where it was much closer to the 52-week low of $2.90 than the 52-week high of $19.41 from about a year ago.

For more Trump related news, see BloggingStocks' TRMP coverage.