SaksIncorporated.com SAKS Incorporated - SAKS Fifth Avenue stores, history and more
Title
Saks Incorporated
Description
Saks Incorporated started out as Proffitt’s Inc., in Knoxville, Tennessee, and became a public company in 1987. During 1994 to 1998, we added some brands such as McRae’s, Parisian, Youngkers, and additional stores from Lovemans, Hess, Parks-Belk, and Brody’s. During September of 1998, through a merger transaction wherein Saks Fifth Avenue and OFF 5th outlet stores became a division of Proffitt’s Inc., the corporate name became Saks Incorporated. We acquired Club Libby Lu in 2003 to cater to the “tween” girls, aged 6-12, with a mission to provide an environment that encourages girls to express their imagination and individuality.
Today, 54 Saks Fifth Avenue stores are in operation, with 49 OFF 5th stores, and saks.com, and 90 Club Libby Lu locations across the country. Saks Fifth Avenue is located throughout the states, and is recognized as an icon in style for discerning consumers.
Saks carries premium designer collections for men and women, together with luxurious accessories, cosmetics and home furnishings with a superb customer service that can be highly personalized. OFF 5th remains to be a foremost leader in the retail industry when it comes discount designer clothing and accessories. OFF 5th carries Saks Fifth Avenue clothing for men, women, children and home with considerable value of 40 to 70% off the original price.
Club Libby Lu continues to provide girls with a place to hang out, shop, have birthday parties, and experiment with products such as making their own lip gloss or shimmering bath gel. Membership at the club is free. There are Club Counselors for each Club Libby Lu, treating each member like a true V.I.P. that defines as the Very Important Princess.
Saks Incorporated is listed under the New York Stock Exchange under the symbol SKS.
Diversity
Saks Incorporated is committed in solely fostering an inclusive environment for its associates, customers, and suppliers. Further, there is a strong motivation on their end to fully understand and value the diversity which is the core to company’s commitment. Therefore, managing diversity is a strategic imperative for them and actually focused on four key areas:
- Education and awareness
- Representation
- Talent management and development
- Business growth initiatives
Officers:
- Stephen I. Sadove - Chairman of the Board and Chief Executive Officer
- Ronald L. Frasch - President and Chief Merchandising Officer
- Michael Brizel - Executive Vice President and General Counsel Kevin Wills
Social Responsibility:
Saks Incorporated plays an active role in giving back to the communities we serve. The size and scope of our company prompted us pay attention to causes in various locations, such as the American Cancer Society, American Heart Association, United Cerebral Palsy Foundation, Habitat for Humanity, and the Juvenile Diabetes Foundation, among many others.
As we have done in the past, we are willing and ready to provide help in relief for those suffering from disasters:
- September 11 — we collected supplies, gave funds, and donated blood following the terrorist attacks of September 11, 2001 (directly lifted)
- Tsunamis —we contributed $100,000 to the American Red Cross for relief efforts after the massive natural disasters occurring in Southeast Asia in December 2004. Hurricanes — we created the Associate Relief Fund to financially support associates who have suffered due to the number of hurricanes that have hit the U.S. in 2004 than in 2005.
Saks Incorporated also believes in supporting national causes:
- WWII Memorial — Saks Incorporated aided in the building of the memorial, erected to honor military veterans of WWII by donating $100,000.
- The National Underground Railroad Freedom Center — A donation of $100,000 went to supporting the building of this museum which was built to commemorate the past and changing future.
- Let Freedom Ring — With MCI, we raised three million minutes for American Troops to call home. For a designated period, every $25 spent in our department stores with one of our proprietary credit cards generated a call home.
A partnership with EPA’s Energy Star Buildings and Green Lights Partnership has helped in making our facilities more energy efficient and in making significant investments in energy management.
Saks Incorporated was one of the pioneers in the retail industry to use a more efficient halogen lamp which has reduced energy consumption by 10%. We are continuing to explore ways of making our business more energy-efficient and finding ways of reducing the energy we consume.
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