Profile: Saks Incorporated (SKS)

Saks Incorporated, incorporated in 1919, is a fashion retail company offering a range of luxury fashion apparel, shoes, accessories, jewelry, cosmetics and gifts. The Company’s operations consist of Saks Fifth Avenue (SFA), Saks Fifth Avenue OFF 5TH (OFF 5th) and SFA’s e-commerce operations. SFA stores are freestanding stores in shopping destinations or anchor stores in upscale regional malls. OFF 5th stores are primarily located in upscale mixed-use and off-price centers, and offer luxury apparel, shoes and accessories. As of January 31, 2009, the Company operated 53 SFA stores with a total of approximately 5.9 million square feet and 51 OFF 5th stores with a total of approximately 1.4 million square feet. In January 2009, the Company discontinued the operations of Club Libby Lu (CLL).

SFA stores carry luxury merchandise from both core vendors and new and emerging designers. SFA has relationships with American and European fashion houses, including Giorgio Armani, Chanel, Gucci, Prada, Louis Vuitton, St. John, Zegna, Theory, Juicy Couture, David Yurman, Hugo Boss, Elie Tahari, Ralph Lauren, Akris and Burberry, among others. Previously, the Company also operated Saks Department Store Group (SDSG), which consisted of Proffitt’s and McRae’s (Proffitt’s); the Northern Department Store Group (NDSG) (operated under the nameplates of Bergner’s, Boston Store, Carson Pirie Scott, Herberger’s and Younkers) and Parisian.