Market Overview

Saks Unveils Plans for Seven New Off 5th Stores for 2014

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Saks Incorporated (NYSE: SKS) (“Saks” or the “Company”) today announced its plans to open seven new Saks Fifth Avenue OFF 5TH stores in 2014: The Outlets at Bloomfield in Pearl, MS; Potomac Mills in Woodbridge, VA; Palm Beach Outlets in West Palm Beach, FL; Outlet Shoppes at Louisville/Lexington, KY; Twin Cities of Eagan in Minneapolis, MN; The Mayfair Collection in Mayfair, WI; and Easton Gateway in Columbus, OH.

“We look forward to the continued expansion of the Saks Fifth Avenue OFF 5TH store base into new markets and to provide our customers with a state-of-the-art shopping environment,” noted Robert Wallstrom, President of Saks Fifth Avenue OFF 5TH. “The seven new stores are located in key communities and will be important additions to the company. We are excited to serve the customers of these communities with premium designer brands at an extraordinary value.”

The stores will range from 25,000 to 28,000 square feet and will be modeled in Saks Fifth Avenue OFF 5TH's luxury-in-a-loft store design. Since its debut in 2008, the innovative layout has been well received and set a new standard in outlet shopping. The design maximizes efficiency and flexibility, enabling easy changes in the general layout. The new stores will be bright and uncluttered, with no hard aisles and one consistent, hard-surface floor throughout. All fixtures will be on casters, ensuring ease in movement, and all hardware will be interchangeable between fixtures.

A distinctive assortment of luxury brands at great prices will be available in the new stores. Shoppers will have access to a broad selection in key merchandise categories such as womenswear, menswear, children's, fine jewelry, beauty, shoes, handbags and sunglasses.

In celebration of the openings, each new store will host local launch festivities with special discounts and giveaways. Additionally, customers will be able to participate in Saks Fifth Avenue OFF 5TH's MORE! Rewards loyalty program. This free program offers weekly discounts, sales and promotions on merchandise throughout the store.

 

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