Saks December Comps Climb 6.0%

Saks Incorporated announced that for the five weeks ended January 1, 2005 compared to the five weeks ended January 3, 2004, total sales increased 7.1% and comparable store sales increased 6.0% on a total company basis. By segment, comparable store sales increased 2.8% for SDSG and increased 12.1% for SFAE for the month.

Sales below are in millions and represent sales from owned departments only.
For the five weeks ended January 1, 2005 compared to the five weeks
ended January 3, 2004, owned sales were:

                                                  Total     Comparable
                        This Year   Last Year    Increase    Increase
                        ----------  ---------  ------------ ----------
SDSG                    $   658.7   $  637.7           3.3%       2.8%
SFAE                        397.6      348.2          14.2%      12.1%
                        ----------  ---------  ------------ ----------
Total                   $ 1,056.3   $  985.9           7.1%       6.0%

At both SDSG and SFAE, sales momentum increased in the later half of December, which is typically a period of increasing promotional activity and deepening discounts.

Merchandise categories with the best sales performances for SDSG in December were intimate apparel, men’s furnishings, accessories, and furniture. Categories with the softest sales performances for SDSG in December were dresses, women’s moderate sportswear, and home. Categories with the best sales performances for SFAE in December were women’s contemporary apparel, women’s designer apparel, men’s contemporary sportswear, jewelry, shoes, and handbags. Categories and businesses with the softest performances for SFAE in December were Off 5th, hosiery, gourmet foods, and Salon Z (women’s large sizes).

On a quarter-to-date basis, for the two months ended January 1, 2005
compared to the two months ended January 3, 2004, owned sales were:

                                                  Total     Comparable
                        This Year   Last Year    Increase    Increase
                        ----------- ---------- ------------ ----------
SDSG                    $  1,024.0  $ 1,003.7          2.0%       1.5%
SFAE                         668.2      599.7         11.4%       9.8%
                        ----------- ---------- ------------ ----------
Total                   $  1,692.2  $ 1,603.4          5.5%       4.6%

On a year-to-date basis, for the eleven months ended January 1, 2005
compared to the eleven months ended January 3, 2004, owned sales were:

                                                  Total     Comparable
                        This Year   Last Year    Increase    Increase
                        ----------- ---------- ------------ ----------
SDSG                    $  3,487.3  $ 3,407.7          2.3%       1.7%
SFAE                       2,545.9    2,251.7         13.1%      11.4%
                        ----------- ---------- ------------ ----------
Total                   $  6,033.2  $ 5,659.4          6.6%       5.6%