Sake Inc. Sees November Comps Rise 2.4%

Retailer Saks Incorporated total sales for November increased 3.0% and comparable store sales increased 2.4% on a total company basis. By segment, comparable store sales decreased 0.6% for SDSG and increased 6.8% for SFAE for the month. Sales below are in millions and represent sales from owned departments only.

For the four weeks ended November 27, 2004 compared to the four weeks ended November 29, 2003, owned sales were:

                                                 Total      Comparable
                                                Increase     Increase
                           This Year Last Year (Decrease)   (Decrease)
                           --------- --------- ----------   ----------
SDSG                        $ 365.3   $ 365.9      (0.2%)       (0.6%)
SFAE                          270.6     251.5       7.6%         6.8%
                           --------- --------- ----------   ----------
Total                       $ 635.9   $ 617.4       3.0%         2.4%

Merchandise categories with the best sales performances for SDSG in November were accessories, shoes, soft home, and women’s better sportswear. Categories with the softest sales performances for SDSG in November were dresses, outerwear, furniture, and men’s sportswear. Categories with the best sales performances for SFAE in November were women’s contemporary sportswear, women’s designer apparel, women’s petite apparel, men’s contemporary sportswear, jewelry, and handbags. Categories with the softest performances for SFAE in November were outerwear, hosiery, and Salon Z (women’s large sizes).

On a year-to-date basis for the ten months ended November 27, 2004 compared to the ten months ended November 29, 2003, owned sales were:

                                                    Total   Comparable
                           This Year   Last Year   Increase  Increase
                           ----------  ---------  --------- ----------
SDSG                       $  2,828.6  $ 2,770.0      2.1%       1.5%
SFAE                          2,148.3    1,903.5     12.9%      11.2%
                           ----------  ---------  --------- ----------
Total                      $  4,976.9  $ 4,673.5      6.5%       5.5%

Saks Incorporated operates Saks Fifth Avenue Enterprises (SFAE), which consists of 64 Saks Fifth Avenue stores and 53 Saks Off 5th stores. The Company also operates its Saks Department Store Group (SDSG) with 241 department stores under the names of Parisian, Proffitt’s, McRae’s, Younkers, Herberger’s, Carson Pirie Scott, Bergner’s, and Boston Store and 38 Club Libby Lu specialty stores.