|
|
Article: Saks Fifth Avenue Enterprises to Close Eight Saks Fifth Avenue Stores and Three off 5th Stores.
- Article from:
- Business Wire
- Article date:
- October 1, 2004
CopyrightCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
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 to close eight Saks Fifth Avenue stores and three Off 5th locations, which represent approximately ...