Saks December Comps Grow 5.1%

Retailer Saks announced that for the five weeks ended January 3, 2004 compared to the five weeks ended January 4, 2003 total sales increased 6.3% and comparable store sales increased 5.1% on a total company basis. By segment, comparable store sales increased 2.9% for SDSG and increased 9.6% for SFAE for the month. Sales below are in millions and represent sales from owned departments only.

For the five weeks ended January 3, 2004 compared to the five
weeks ended January 4, 2003, owned sales were:

                                                   Total    Comparable
                            This Year  Last Year  Increase   Increase
                            ---------  ---------  --------  ----------
SDSG                        $   637.7  $  615.7      3.6%       2.9%
SFAE                            348.2     312.0     11.6%       9.6%
                            ---------  ---------  --------  ----------
Total                       $   985.9  $  927.7      6.3%       5.1%

For the two months ended January 3, 2004 compared to the two
months ended January 4, 2003, owned sales were:

                                                   Total    Comparable
                            This Year  Last Year  Increase   Increase
                            ---------  ---------  --------  ----------
SDSG                        $ 1,003.7  $   966.8     3.8%       3.2%
SFAE                            599.7      535.0    12.1%      10.3%
                            ---------  ---------  --------  ----------
Total                       $ 1,603.4  $ 1,501.8     6.8%       5.7%

On a year-to-date basis, for the eleven months ended January 3,
2004 compared to the eleven months ended January 4, 2003, owned sales
were:

                                                   Total    Comparable
                            This Year  Last Year  Increase   Increase
                            ---------  ---------  --------  ----------
SDSG                        $ 3,407.6  $ 3,369.3     1.1%       0.3%
SFAE                          2,251.7    2,174.9     3.5%       2.9%
                            ---------  ---------  --------  ----------
Total                       $ 5,659.3  $ 5,544.2     2.1%       1.3%

Merchandise categories with the best sales performances for SDSG
in December were better women's sportswear, accessories, cosmetics,
men's furnishings, and intimate apparel. Categories with softer sales
performances for SDSG in December were outerwear, soft home, and
juniors' apparel. Categories with the best sales performances for SFAE
in December were women's contemporary sportswear; men's dress
furnishings, advanced sportswear, and shoes; jewelry; women's
handbags, shoes, and accessories; and women's American and European
designer collections. Categories with the softest performances for
SFAE in December were women's designer sportswear, Salon Z (women's
large sizes), and children's apparel.