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Saks: Saks Incorporated
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Taubman Centers, Inc. (NYSE: TCO) today confirmed that Saks, Incorporated (NYSE: SKS) has set September 24, 2004, as the opening date for its new location at The Shops at Willow Bend. Construction on the 122,900 square foot store will begin this fall.
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Saks Incorporated and its subsidiaries operate department stores in the United States. It operates stores under the brand names of Saks Fifth Avenue, Off Fifth, and Club Libby Lu. The company's stores offer apparel, shoes, accessories, jewelry, cosmetics, gifts, and decorative home furnishings.
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Saks Incorporated began as Proffitt's Inc., with just five Proffitt’s stores in metropolitan Knoxville, Tennessee. From 1994 to 1998, the company added McRae's, Younkers, Parisian, Herberger's, Carson Pirie Scott, Boston Store, and Bergner's chains, as well as 32 additional stores from
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Saks operates 54 stores in the US, including its site on New York's Fifth Avenue. It has repeatedly been the subject of takeover speculation in the past few years, as the management sold lower-range department stores that were part of the Saks Incorporated group.
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ASHBURN, Va., Nov. 8 /PRNewswire-FirstCall/ -- MCI, Inc. today announced it has signed a three-year agreement with Saks Incorporated , one of the country's leading retailers, to deliver Internet, data and voice services. As a premier retailer of a wide assortment of quality fashion apparel, shoes, accessories, cosmetics and decorative home furnishings, Saks relies on its network to enhance its business operations and better serve customers. This agreement represents an expansion of an existing long-term relationship between the two companies.
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Stagman added that Saks Incorporated had an existing Disaster Relief Fund for its associates, to which employees and vendors across the country added $440,000 in response to Katrina. These funds continue to be distributed as needed to the 237 affected employees to help cover various expenses.
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