Saks Comps Climb 4.4% in October

Saks Incorporated announced that for the four weeks ended October 30, 2004 compared to the four weeks ended November 1, 2003, total sales increased 5.5% and comparable store
sales increased 4.4% on a total company basis. By segment, comparable store sales increased 5.0% for SDSG and increased 3.6% for SFAE for the month. Sales below are in millions and represent sales from owned departments only.

For the four weeks ended October 30, 2004 compared to the four
weeks ended November 1, 2003, owned sales were:

                                                    Total   Comparable
                               This Year Last Year Increase  Increase
                               --------- --------- --------- --------
SDSG                           $  286.1  $  270.3       5.9%     5.0%
SFAE                              203.5     193.9       5.0%     3.6%
                                --------  -------- --------- --------
Total                          $  489.6  $  464.2       5.5%     4.4%

SDSG October comparable store sales benefited by approximately $14
million from the shift of “Capacity Days,” the largest sale event of
the fall season at the Carson Pirie Scott stores, from September last
year into October this year. Excluding the shift, management estimates
SDSG comparable store sales would have been essentially flat for
October.

Merchandise categories with the best sales performances for SDSG
in October were children's apparel, soft home, women's better
sportswear, accessories, and shoes. Categories with the softest sales
performances for SDSG in October were dresses, hard home, furniture,
and outerwear. Categories with the best sales performances for SFAE in
October were women's contemporary sportswear, women's designer
apparel, bridal, men's contemporary sportswear, jewelry, and handbags.
Categories with the softest performances for SFAE in October were
outerwear, hosiery, and women's special sizes.

For the third quarter ended October 30, 2004 compared to the third
quarter ended November 1, 2003, owned sales were:

                                                 Total      Comparable
                                                Increase     Increase
                         This Year  Last Year  (Decrease)   (Decrease)
                         ---------  ---------  ----------  -----------
SDSG                     $  843.2   $  862.3       (2.2%)       (2.6%)
SFAE                        629.2      595.1        5.7%         4.3%
                          --------   --------  ----------  -----------
Total                    $1,472.4   $1,457.4        1.0%         0.3%

For the current year third quarter, management estimates hurricane
activity in the Southeast negatively affected total comparable store
sales by approximately $13 million, or 90 basis points. By segment,
the hurricane effect for the quarter is estimated at $7 million, or
90 basis points, for SDSG, and approximately $6 million, or 100 basis
points, for SFAE.

On a year-to-date basis for the nine months ended October 30, 2004
compared to the nine months ended November 1, 2003, owned sales were:

                                                   Total    Comparable
                           This Year  Last Year  Increase    Increase
                           ---------  ---------  --------  -----------
SDSG                       $2,463.3   $2,404.1       2.5%         1.8%
SFAE                        1,877.7    1,652.0      13.7%        11.9%
                            --------   --------  --------  -----------
Total                      $4,341.0   $4,056.1       7.0%         5.9%

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 35 Club Libby Lu specialty stores.