Saks Incorporated
Industry: Retail (Department & Discount)

Saks Incorporated operates its Saks Department Store Group (SDSG) with 244 department stores under the names of Parisian, Proffitt's, McRae's, Younkers, Herberger's, Carson Pirie Scott, Bergner's, and Boston Store. The Company also operates Saks Fifth Avenue Enterprises (SFAE), which consists of 61 Saks Fifth Avenue stores and 51 Off 5th stores. SSG provides operational support for both SDSG and SFAE.

Business Summary
Saks Incorporated and its subsidiaries is a retailer operating through two business segments: Saks Department Store Group (SDSG) and Saks Fifth Avenue Enterprises (SFAE). SDSG consists of stores operated under the nameplates: Younkers, Parisian, Herberger's, Carson Pirie Scott (Carson's), Bergner's and Boston Store, and Club Libby Lu mall-based specialty stores. SFAE includes Saks Fifth Avenue (SFA) luxury department stores and Off 5th Saks Fifth Avenue Outlets (Off 5th). On July 5, 2005, the Company consummated a transaction with Belk, Inc. (Belk), in which Belk acquired from the Company, substantially all of the assets directly involved in the Company's Proffitt's and McRae's business operations.

Financial Summary
For the 26 weeks ended 30 July 2005, Saks Incorporated's revenues decreased 1% to $2.87B. The Company's net income for the period totalled $24.4M vs. a loss of $5.2M. Revenues reflect a decrease in comparable store sales. Earnings benefitted from $159.9M in realized gains from impairments and dispositions, primarily related to the sale of Profitt's, the absence of $7.4M in charges related to asset write-offs, and decreased interest costs.