Saks Inc.
Headquarters:
12 East 49th St.
New York, NY 10017
Employees: 12,320
CEO: Stephen Sandove
Stock Symbol: SKS
Website:
http://www.saksincorporated.com
Career Site
Saks operates a chain of luxury department
stores known as Saks Fifth Avenue as well as specialty stores
called Club Libby Lu. The company's flagship Saks Fifth Avenue
store is in Manhattan at 611 Fifth Avenue.
There are a total of 54 Saks Fifth Avenue
stores, 48 outlet locations called Saks Off 5th Stores and 62
Club Libby Lu specialty stores targeted to young girls.
Saks earns about 20% of revenue from New
York stores. The flagship Saks Fifth Ave. in Manhattan unveiled
a new women's shoe section last August with its own zip code:
10022-SHOE.
The chain recently completed renovations
in Phoenix, Palm Beach Gardens, Chicago, and San Francisco stores.
The total renovation of the Boston store will be finished in
2008. Renovations of the South Coast Plaza store in Los Angeles
and the Naples, FL store began in 2007 and will be completed
in 2008.
For fiscal 2007, Saks had sales of $3.2
billion and net loss of $47.5 million.
The company moved its headquarters from
Birmingham, AL to NYC in 2007.
History
Saks Fifth Avenue was the brainchild of
Horace Saks and Bernard Gimbel, who operated independent retail
stores on New York's 34th Street at Herald Square in the early
1900s. Their dream was to construct a unique specialty store
that would become synonymous with fashionable, gracious living.
The combined financial input of these great
merchant families led to the purchase of a site between 49th
and 50th Streets on upper Fifth Avenue, then jointly occupied
by the Democratic Club and the Buckingham Hotel. With the opening
of its founders' "dream store" on September 15, 1924,
Saks Fifth Avenue became the first large retail operation to
locate in what was then primarily a residential district. By
offering the finest quality men's and women's fashions, as well
as an extraordinary program of customer services, Saks Fifth
Avenue has become the byword for taste and elegance.
In 2005, Saks sold the Proffitt's/McRae's
business to Belk, Inc.
The company sold its Northern Department
Stores Group to BonTon in 2006 for $1.1 billion. This group included
31 Carson Pirie Scott stores, 14 Bergner's stores, 10 Boston
Store stores, 40 Herberger's stores, and 47 Younkers stores.
Benefits
- Medical and Pharmacy Insurance
·
- Dental PPO Plan
- Vision Plan
·
- 401(k) with a Company match
·
- Employee Stock Purchase Plan through which Company stock can
be purchased for a discount
·
- Life Insurance
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- Long Term Disability Insurance
·
- Long Term Care Insurance
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- 529 College Savings Plan
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- Paid sick benefits
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- Vacation benefits
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- Generous Associate Discount at Saks Incorporated stores
Updated March 5, 2008
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