Saks Says to Close Saks Fifth Avenue in Tampa, FL

Retailer Saks Incorporated (NYSE: SKS) (“Saks” or the “Company”) todayannounced that it plans to close its Saks Fifth Avenue store located in theWestShore Plaza in Tampa, Florida on May 4, 2013.Steve Sadove, Chairman and Chief Executive Officer of Saks, commented, “Thisplanned closing is in line with our strategy of using our resources in ourmost productive Saks Fifth Avenue stores. We regularly assess theproductivity, profitability, and potential of each of our stores and maydetermine that a closing is appropriate from time to time.”Approximately 105 associates are employed in the Tampa store. All affectedfull-time and part-time associates either will be offered transferopportunities or will receive appropriate employment separation packages.Sadove further noted, “These decisions are always difficult. We are extremelyappreciative of our Tampa store associates, several of whom have worked withus for many years. We are committed to giving our associates needed assistanceduring this period.”The Company has operated its Saks Fifth Avenue store in Tampa since 1998. TheCompany operates nine other Saks Fifth Avenue stores throughout Florida,including a store in nearby Sarasota. The Company plans to open a new SaksFifth Avenue store in Sarasota's Mall at University Town Center in 2014,meaningfully expanding its presence in that market. The Company also operatesseven Saks Fifth Avenue OFF 5TH outlet stores throughout the state.Saks Incorporated currently operates 43 Saks Fifth Avenue stores, 66 SaksFifth Avenue OFF 5TH stores, and saks.com. Saks Fifth Avenue is proud to benamed a J.D. Power and Associates 2012 Customer Service Champion and is onlyone of 50 U.S. companies so named.