Content about Saks

April 23, 2013

Tampa Saks Fifth Ave. to close doors in May

Retailer Saks Incorporated will be closing its Saks Fifth Avenue store located in the WestShore Plaza in Tampa, Fla., May 4.

NEW YORK — Retailer Saks Incorporated will be closing its Saks Fifth Avenue store located in the WestShore Plaza in Tampa, Fla., May 4.

“This planned closing is in line with our strategy of using our resources in our most productive Saks Fifth Avenue stores. We regularly assess the productivity, profitability and potential of each of our stores and may determine that a closing is appropriate from time to time,” said Steve Sadove, chairman and CEO of Saks.

March 26, 2013

Saks Fifth Avenue appoints new SVP, director of flagship store

Saks Fifth Avenue announced that John Cruz has been named SVP and director of the New York City flagship store, effective April 29.

New York -- Saks Fifth Avenue announced Monday that John Cruz has been named SVP and director of the New York City flagship store, effective April 29.

Cruz currently serves as VP and general manager of the company’s Beverly Hills store. He has worked at the NYC store before – as general manager 2005-2007 and VP and GM 2007-2010.

Cruz replaces Suzanne Stemper-Johnson, who is leaving Saks to pursue other interests.

March 15, 2013

Saks dresses up new Fla. store

Saks Fifth Avenue has revealed more details about its new two-level, 80,000 sq. ft. store in The Mall at University Town Center in Sarasota, Fla., which is presently under construction at the intersection of I-75 and University Parkway.

SARASOTA, Fla. — Saks Fifth Avenue has revealed more details about its new two-level, 80,000 sq. ft. store in The Mall at University Town Center in Sarasota, Fla., which is presently under construction at the intersection of I-75 and University Parkway. The Mall at University Town Center is being co-developed by Taubman Centers and Benderson Development and is scheduled to open Oct. 16, 2014.

March 11, 2013

Saks redesigns website

Saks Fifth Avenue has redesigned the Saks.com homepage to include a longer, more fluid layout that more prominently highlights seasonal trends and most-wanted designers.

NEW YORK — Saks Fifth Avenue has redesigned the Saks.com homepage to include a longer, more fluid layout that more prominently highlights seasonal trends and most-wanted designers.

The new site now features larg-scale photography, improved navigation, easier access to magazine-style features and enhanced product detail pages.

Saks.com was last refreshed in July 2010 and the last complete redesign was in September 2007.

February 27, 2013

Saks comps up slightly in Q4, focused on omnichannel efforts

Saks reported that sales for the fourth quarter were up 5.6% over the same period last year. Same-store sales were up 0.7% for the period.

NEW YORK — Saks reported that sales for the fourth quarter were up 5.6% over the same period last year. Same-store sales were up 0.7% for the period.

For the fourth quarter Saks recorded net income of $20.4 million, or 13 cents per diluted share, compared with net income of $37 million, or 21 cents per diluted share for the same period last year.

February 1, 2013

Saks supports Red Cross, local charities with new initiative

Saks has introduced its Saks Love Your Cause Initiative, which will give 5% of all registered purchases to the American Red Cross and select local organizations, during February.

NEW YORK — Saks has introduced its Saks Love Your Cause Initiative, which will give 5% of all registered purchases to the American Red Cross and select local organizations, during February.

“Saks Fifth Avenue is committed to our local communities. We appreciate our customers’ charitable involvement and look forward to giving back locally for a second year with this exciting and newly implemented national program,” Steve Sadove, chairman and CEO, Saks Inc., said.

February 1, 2013

Saks supports Red Cross, local charities with new initiative

Saks has introduced its Saks Love Your Cause Initiative, which will give 5% of all registered purchases to the American Red Cross and select local organizations, during February.

NEW YORK — Saks has introduced its Saks Love Your Cause Initiative, which will give 5% of all registered purchases to the American Red Cross and select local organizations, during February.

January 25, 2013

Saks amps up omni-channel strategy

Saks Fifth Avenue is amping up its omni-channel strategy by updating its SaksFirst loyalty program and adding free shipping.

Saks Fifth Avenue is amping up its omni-channel strategy by updating its SaksFirst loyalty program and adding free shipping. The changes will make the benefits of the program more consistent across Saks’ different channels.

On Thursday, Saks announced that all Saks cardholders will now receive free shipping from Saks stores, Saks.com and Saks Fifth Avenue Off 5th stores.

January 14, 2013

Saks CEO new chair of NRF board

The National Retail Federation has elected Saks chairman and CEO Stephen I. Sadove to chairman of the NRF board of directors and chairman of its executive committee.

NEW YORK — The National Retail Federation has elected Saks chairman and CEO Stephen I. Sadove to chairman of the NRF board of directors and chairman of its executive committee. Sadove succeeds NRF’s chairman, Terry J. Lundgren, who is chairman, president and CEO of Macy’s.

October 1, 2012

Saks opens first Fifth Avenue store in Kazakhstan

Saks Inc. has opened its first Saks Fifth Avenue store in Kazakhstan, in the city of Almaty.

NEW YORK — Saks Inc. has opened its first Saks Fifth Avenue store in Kazakhstan, in the city of Almaty.

September 17, 2012

Saks launches AT&T Wi-Fi at all stores

Saks Inc. said Monday it has launched AT&T Wi-Fi at all 44 retail locations nationwide.

New York -- Saks Inc. said Monday it has launched AT&T Wi-Fi at all 44 retail locations nationwide.

The AT&T Wi-Fi network connects shoppers with mobile tools such as the new Saks Fifth Avenue app, which offers features such as shareable wish lists, fashion look books, event calendars and more. AT&T customers with select Wi-Fi enabled devices will auto-authenticate to the in-store Wi-Fi service, so frequent shoppers will be automatically connected to Saks Fifth Avenue’s Wi-Fi each time they re-visit the store.

June 21, 2012

Saks does analytics deal with First Insight

New predictive analytics tools are being used at Saks Off 5th stores to help the company make smarter merchandising decisions.

NEW YORK — New predictive analytics tools are being used at Saks Off 5th stores to help the company make smarter merchandising decisions.

The retailer is using tools provided by First Insight to generate insights from online customer engagement to help it make faster and more accurate buying and pricing decisions for new products, according to First Insight. The Pittsburgh-based company said the predictive analytics it generates will help the company reduce markdowns, out of stocks and mitigate the risks associated with new product launches.

May 3, 2012

Macy’s, Kohl’s, Costco fall short of expectations in April

Macy's Inc., Kohl’s, Saks and Costco’s Wholesale Corp. all reported results that fell short of expectations in April.

NEW YORK — Macy's Inc., Kohl’s, Saks and Costco’s Wholesale Corp. all reported results that fell short of expectations in April. An early Easter, which helped fuel March results, high gas prices, cool weather and renewed worries about the economy contributed to the decline, according to many analysts.

April 4, 2012

Saks names president of direct unit

Saks has named Michael Burgess as president of its direct business, effective May 7, 2012. Burgess will report to Denise Incandela, EVP and chief marketing officer for Saks Fifth Avenue and current president of Saks direct.

NEW YORK — Saks has named Michael Burgess as president of its direct business, effective May 7, 2012. Burgess will report to Denise Incandela, EVP and chief marketing officer for Saks Fifth Avenue and current president of Saks direct.

December 5, 2011

Flat apparel comps reflect overall mixed bag

Target's flat apparel and accessories for the month of November reflected a mixed sales environment across the department-store and specialty-apparel sectors as the economy continues to affect discretionary spending.

NEW YORK — Target's flat apparel and accessories for the month of November reflected a mixed sales environment across the department-store and specialty-apparel sectors as the economy continues to affect discretionary spending.

November 15, 2011

Comps up, income down at Saks

Despite a significant decrease in net income, Saks delivered sales growth as it continues to improve its operating performance.

NEW YORK — Despite a significant decrease in net income, Saks delivered sales growth as it continues to improve its operating performance. Saks Inc. reported net income for the third quarter of $17.8 million, or 11 cents per diluted share, compared with net income of $36.3 million, or 20 cents per diluted share.

November 3, 2011

October sales generally up, but short of estimates

With fewer retailers following in Walmart's footsteps in not disclosing monthly sales, it has become harder to gauge the overall health of the industry.

NEW YORK — With fewer retailers following in Walmart's footsteps in not disclosing monthly sales, it has become harder to gauge the overall health of the industry. Still, enough of them reported this monht to show that consumer spending slowed in October, sending a note of caution as retailers head into the holiday season. Eleven retailers missed expectations for same-store sales, while three chains beat estimates, according to a preliminary tally by Thomson Reuters.

November 3, 2011

October sales generally up, but short of estimates

Consumer spending slowed in October, sending a note of caution as retailers head into the holiday season.

NEW YORK — Consumer spending slowed in October, sending a note of caution as retailers head into the holiday season. Eleven retailers missed expectations for same-store sales, while three chains beat estimates, according to a preliminary tally by Thomson Reuters. However, while the October results were not as promising as some retailers had hoped, sales for the most part rose and most chains reported results that were only slightly off from analysts’ estimates. Some analysts blamed Wall Street for underestimating how much caution is still out there.

October 10, 2011

Rising spending tide lifted most apparel boats

Americans spent lots of money on apparel in September, and Target was among the beneficiaries, reporting that the category’s performance exceeded the total company same-store sales increase of 5.3%. Target didn’t elaborate on any key merchandising initiatives that may have influenced the results, such as the launch of the Missoni collection, but it was hardly alone in reporting strong apparel sales.

September 15, 2011

Saks Fifth Avenue gets new chief marketer

Saks announced that Denise Incandela, president Saks Direct and EVP of Saks Fifth Avenue, has been named chief marketing officer for Saks Fifth Avenue, a newly created role

NEW YORK — Saks announced that Denise Incandela, president Saks Direct and EVP of Saks Fifth Avenue, has been named chief marketing officer for Saks Fifth Avenue, a newly created role. She also will continue as president Saks Direct.

August 30, 2011

Expectations elevated at Dollar General

It’s been one extreme or another the past few weeks in the retail world. First, luxury retailers Tiffany and Saks reported strong sales and profits and then on Tuesday Dollar General results showed the low-end consumers have some spending power and a taste for its brand of discount retail.

August 29, 2011

Saks brings discount luxury to new markets

NEW YORK — Customers with expensive taste will have greater access to luxury now that Saks is planning to open five new Off 5th stores throughout the United States. According to the company, these new stores will be located in upscale outlet, lifestyle, or strip centers, and each store will be designed in Off 5TH's unique "luxury in a loft" format. The new stores should have a particular appeal to foreign tourists, who helped drive up same-store sales to about 15% at Saks' flagship New York store.

July 5, 2011

Saks to open department store in Kazakhstan

Saks said Tuesday it will open a licensed Saks Fifth Avenue store in Almaty, Kazakhstan, in August 2012.

NEW YORK — Saks said Tuesday it will open a licensed Saks Fifth Avenue store in Almaty, Kazakhstan, in August 2012.

The full-line department store, which will tailor its merchandise to the region, will open in Esentai Shopping Mall, which is part of a new mixed-use development featuring residential, office and hospitality components.

The three-story, 91,000-sq.-ft. store will showcase a three-story-high, state-of-the-art digital video screen on the building’s facade.

June 2, 2011

Luxury leads the way in May

A sluggish economy, cool weather and high prices at the pump tempered retail sales in May, as retailers reported mixed results for the month.

NEW YORK — A sluggish economy, cool weather and high prices at the pump tempered retail sales in May, as retailers reported mixed results for the month. Retail Metrics projected an increase of 5.1% for the 25 chains tracked, which would mark the 21st straight monthly gain from September 2009.

Retailers who turned in strong performances in May included Macy’s, with a 7.4% rise in same-store sales when a 5.6% increase was expected. The company lifted its full-year same-stores sales estimate.

February 23, 2011

Saks experiences upswing in Q4 profit

Saks returned to profitability in its fiscal fourth quarter as the chain sold more items at full-price and used fewer promotions.

NEW YORK — Saks returned to profitability in its fiscal fourth quarter as the chain sold more items at full-price and used fewer promotions.

The company reported net income of $25 million for the period ended Jan. 29, compared with a loss of $4.6 million a year earlier.

Revenue rose 7% to $866.3 million, topping Wall Street's estimate of $854.4 million. Same-store sales were up 8.4%, compared with the year-ago period.