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Saks Inc

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BUSINESS
January 30, 2001
* Saks Inc. named George Jones chief executive of its department store group, effective March 1. Jones will replace Robert Mosco, who resigned last fall.
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NEWS
July 30, 2013 | By Adam Tschorn and Booth Moore
'Fashion Star' fizzles:  NBC has canceled the reality fashion competition show "Fashion Star," according to the Hollywood Reporter. The series, which featured Jessica Simpson, Nicole Richie and menswear designer John Varvatos mentoring up-and-coming designers, had a two-season run.  [Hollywood Reporter] Saks sold: Saks Inc., parent company of the Saks Fifth Avenue luxury department store chain, was snapped up by Canadian retail giant Hudson's Bay for $2.9 billion (including debt)
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BUSINESS
February 9, 2001
Not all the stock offering news was good. Saks Inc. (SKS) said it canceled plans to spin off its upscale Saks Fifth Avenue business from the rest of its department store operations because investors seem less willing to pay a large premium for shares in a luxury retailer. The gap between the value investors place on luxury merchants and mid-price department stores has narrowed since the company's July announcement to split the two businesses, Saks Chairman and Chief Executive R.
BUSINESS
March 6, 2003
Saks Inc said fourth-quarter profit rose 26% as the company reduced costs by combining divisions and eliminating jobs. Net income increased to $68.1 million, or 47 cents a share. Sales fell 3.7% to $1.84 billion. Neiman Marcus Group Inc. said its fiscal second-quarter earnings surged 34% to $32.5 million, or 68 cents a share. Sales rose 3.3% to $938.5 million.
NEWS
July 30, 2013 | By Adam Tschorn and Booth Moore
'Fashion Star' fizzles:  NBC has canceled the reality fashion competition show "Fashion Star," according to the Hollywood Reporter. The series, which featured Jessica Simpson, Nicole Richie and menswear designer John Varvatos mentoring up-and-coming designers, had a two-season run.  [Hollywood Reporter] Saks sold: Saks Inc., parent company of the Saks Fifth Avenue luxury department store chain, was snapped up by Canadian retail giant Hudson's Bay for $2.9 billion (including debt)
BUSINESS
March 14, 2001 | From Bloomberg News and Reuters
Highflying retailer Kohl's Corp. on Tuesday reported a 48% jump in profit for its fiscal fourth-quarter and confirmed that it plans to expand into California, beginning with stores in the Los Angeles area in 2003. Meanwhile, Kmart Corp., the nation's third-largest retailer, and Saks Inc. each posted big declines in earnings for the latest quarter. Kohl's said profit rose to $178.5 million, or 52 cents a share, in the period ended Feb.
BUSINESS
March 6, 2003
Saks Inc said fourth-quarter profit rose 26% as the company reduced costs by combining divisions and eliminating jobs. Net income increased to $68.1 million, or 47 cents a share. Sales fell 3.7% to $1.84 billion. Neiman Marcus Group Inc. said its fiscal second-quarter earnings surged 34% to $32.5 million, or 68 cents a share. Sales rose 3.3% to $938.5 million.
BUSINESS
May 6, 2005
Saks Inc. shareholder Carlos Slim increased his stake in the retailer to 13% to become its second-largest shareholder. Saks shares rose 66 cents to $17.56 on the New York Stock Exchange.
BUSINESS
July 14, 2006
Bookstore operator Borders Group Inc. named former Saks Inc. executive George Jones as its chief executive, ending a six-month search to find a replacement for Greg Josefowicz.
BUSINESS
January 16, 2009 | Times Wire Reports
Luxury retailer Saks Inc said it would cut about 1,100 corporate and store positions, or 9% of its workforce, because of the deteriorating economy. The New York company also said it had eliminated merit-based wage increases for all employees and suspended its 401(k) matching contributions.
BUSINESS
March 14, 2001 | From Bloomberg News and Reuters
Highflying retailer Kohl's Corp. on Tuesday reported a 48% jump in profit for its fiscal fourth-quarter and confirmed that it plans to expand into California, beginning with stores in the Los Angeles area in 2003. Meanwhile, Kmart Corp., the nation's third-largest retailer, and Saks Inc. each posted big declines in earnings for the latest quarter. Kohl's said profit rose to $178.5 million, or 52 cents a share, in the period ended Feb.
BUSINESS
February 9, 2001
Not all the stock offering news was good. Saks Inc. (SKS) said it canceled plans to spin off its upscale Saks Fifth Avenue business from the rest of its department store operations because investors seem less willing to pay a large premium for shares in a luxury retailer. The gap between the value investors place on luxury merchants and mid-price department stores has narrowed since the company's July announcement to split the two businesses, Saks Chairman and Chief Executive R.
BUSINESS
January 30, 2001
* Saks Inc. named George Jones chief executive of its department store group, effective March 1. Jones will replace Robert Mosco, who resigned last fall.
BUSINESS
October 30, 2007 | From Times Wire Services
Icelandic investor Baugur Group said it might make a joint bid for luxury department store Saks Inc. with Dubai-owned Landmark Group. Shares of Saks rose 10% in after-hours trade to $21.75.
BUSINESS
July 8, 2005 | From Bloomberg News
Department store chain Saks Fifth Avenue will close its private-label apparel business to focus on selling designer merchandise. The luxury retailer, a unit of Saks Inc., also will shut its product development division by the end of September. About 15 employees will lose their jobs, Birmingham, Ala.-based Saks said.
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