Saks Inc.
Headquarters:
12 East 49th St.
New York, NY 10017
Employees: 9,600
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. The company's flagship Saks Fifth Avenue store is in Manhattan at 611 Fifth Avenue.
There are a total of 46 Saks Fifth Avenue stores and 60 Saks Off 5th outlet stores.
Saks Off 5th offers value-priced designer clothing and accessories.
Saks earns about 20% of revenue from New York stores. The flagship Saks Fifth Ave. in Manhattan has a women's shoe section on the eighth floor with its own zip code: 10022-SHOE.
For 2010, Saks reported net income of $47.8 million on revenues of $2.78 billion. Store sales increased 6.4% for the year.
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.
The company moved its headquarters from Birmingham, AL to NYC in 2007.
Benefits
- Medical and Pharmacy Insurance
- Dental PPO Plan
- Vision Plan
- 401(k) plan
- Employee Stock Purchase Plan through which Company stock can be purchased for a discount
- Life Insurance
- Long Term Disability Insurance
- Long Term Care Insurance
- 529 College Savings Plan
- Paid sick benefits
- Vacation benefits
- Generous Associate Discount at Saks Incorporated stores
Updated November 12, 2011
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