Saks Inc Posts 14.7% February Comp sIncrease

Saks Incorporated announced that for the four weeks ended February 28, 2004 compared to the four weeks ended March 1, 2003 total sales increased 16.1% and
comparable store sales increased 14.7% on a total company basis. By segment, comparable store sales increased 8.0% for SDSG and increased 25.2% for SFAE for the month. Sales below are in millions and represent sales from owned departments only.

For the four weeks ended February 28, 2004 compared to the four
weeks ended March 1, 2003, owned sales were:

                                            Total          Comparable
        This Year        Last Year        Increase           Increase
        ---------        ---------        --------           --------
SDSG    $   247.2        $  226.6            9.1%               8.0%
SFAE        178.9           140.5           27.3%              25.2%
        ---------        --------          ------             ------
Total   $   426.1        $  367.1           16.1%              14.7%

Merchandise categories with the best sales performances for SDSG
in February were accessories, moderate and better women's sportswear,
cosmetics, men's furnishings, soft home, and outerwear. Categories
with softer sales performances for SDSG in February were furniture,
children's apparel, and juniors' apparel. Categories with the best
sales performances for SFAE in February were women's designer apparel,
women's contemporary sportswear, eveningwear, women's private brand
apparel, outerwear, fine jewelry, and handbags. Categories with the
softest performances for SFAE in February were hosiery, intimate
apparel, and fashion jewelry.