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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  
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- Dental PPO Plan

- Vision Plan  
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- 401(k) with a Company match  
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- Employee Stock Purchase Plan through which Company stock can be purchased for a discount   
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- Life Insurance  
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- Long Term Disability Insurance  
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- 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