Saks, Inc. Sees September Comps Rise 4.0%

Saks Incorporated announced that for the five weeks ended October 4, 2003 compared to the five weeks ended October 5, 2002 total sales increased 5.4% and comparable store sales increased 4.0% on a total company basis. By segment, comparable store sales increased 6.0% for SDSG and increased 1.2% for SFAE for the month.

Sales below are in millions and represent sales from owned departments only.

For the five weeks ended October 4, 2003 compared to the five weeks ended October 5, 2002, owned sales were:

                                                  Total     Comparable
                         This Year   Last Year   Increase    Increase
                         ---------   ---------   --------   ----------
SDSG                     $  348.6    $  325.5      7.1%         6.0%
SFAE                        243.1       236.0      3.0%         1.2%
                         ---------   ---------   --------   ----------
Total                    $  591.7    $  561.5      5.4%         4.0%

On a quarter-to-date basis, for the two months ended October 4, 2003 compared to the two months ended October 5, 2002, owned sales were:

                                                  Total     Comparable
                         This Year   Last Year   Increase    Increase
                         ---------   ---------   --------   ----------
SDSG                     $   592.0   $   562.7     5.2%         3.8%
SFAE                         401.3       393.2     2.0%         1.1%
                         ---------   ---------   --------   ----------
Total                    $   993.3   $   955.9     3.9%         2.6%

On a year-to-date basis, for the eight months ended October 4, 2003 compared to the eight months ended October 5, 2002, owned sales were:

                                                  Total
                                                 Increase   Comparable
                         This Year   Last Year  (Decrease)  (Decrease)
                         ---------   ---------   --------   ----------
SDSG                     $2,133.7    $2,127.9      0.3%       (0.7%)
SFAE                      1,458.1     1,472.8     (1.0%)      (1.1%)
                         ---------   ---------   --------   ----------
Total                    $3,591.8    $3,600.7     (0.2%)      (0.8%)

Merchandise categories with the best sales performances for SDSG in September were women's better, moderate, and special size apparel; outerwear; shoes; cosmetics; and dresses. Categories with softer sales performances for SDSG in September were men's sportswear and junior's apparel. Categories and businesses with the best sales performances for SFAE in September were women's contemporary sportswear, men's contemporary sportswear and dress furnishings, fine jewelry, soft accessories, hosiery, shoes, outerwear, and Off 5th. Categories with the softest performances for SFAE in September were women's designer sportswear, evening dresses, children's apparel, and intimate apparel.