Saks Fifth Avenue Enterprises to Close Eight Saks Fifth Avenue Stores and Three off 5th Stores.

Business Wire | October 1, 2004 | Copyright

NEW YORK -- Saks Fifth Avenue Enterprises ("SFAE"), a business segment of retailer Saks Incorporated (NYSE:SKS) ("Saks" or the "Company"), today announced it intends to close eight Saks Fifth Avenue stores and three Off 5th stores. One of the Saks Fifth Avenue stores to be closed will be converted into an Off 5th store.

Fred Wilson, Chairman and Chief Executive Officer of Saks Fifth Avenue Enterprises, commented, "After completing an extensive review of our store base, we are taking steps to rationalize our real estate portfolio to improve profitability. We intend ...

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