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Once one of the top US department store operators, Saks Incorporated has retrenched to focus solely on its luxury Saks Fifth Avenue business. The company has dismantled an empire of some 375 middle-market department stores under 10 different banners (including Bergner's, Carson Pirie Scott, and Parisian) to stake its future on about 100 Saks Fifth Avenue department stores and outlet stores under the Off 5th banner. The sales in 2006 of its Northern Department Store Group and Parisienne business moved the retailer into the luxury market. Founded in 1919 as Profitt's, the firm bought renowned luxury retailer Saks Holdings (owner of Saks Fifth Avenue and Off 5th) and adopted the high-dollar Saks name.
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Address: |
12 East 49th St.
New York, NY 10017
| | Phone: | 212-940-5305 | | Fax: | |
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| Financial
Highlights | | Fiscal Year End: | January | | Revenue (2009): | 3029.70 M | | Revenue Growth (1 yr): | (-7.70%) | | Employees (2009): | 13,000 | | Employee Growth (1 yr): | (-22.20%) |
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Key People
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Chairman and CEO; CEO, Saks Fifth Avenue Enterprises:
Stephen I. (Steve) Sadove
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President and Chief Merchandising Officer:
Ronald L. (Ron) Frasch
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EVP Finance and CFO:
Kevin G. Wills
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