Saks, Inc. July Same-Store Sales Up 2.2%

Saks Incorporated announced that comparable store sales for the four weeks ended August 2, 2003 compared increased 2.2% on a total company basis. By segment, comparable store sales decreased 0.5% for SDSG and increased 6.5% for SFAE for the month. Sales below are in millions and represent sales from owned departments only.

For the four weeks ended August 2, 2003 compared to the four weeks
ended August 3, 2002, owned sales were:

                                                            Comparable
                                                   Total     Increase
                            This Year Last Year  Increase   (Decrease)
                            --------- --------- ---------- -----------
SDSG                          $220.0    $217.9       1.0%       (0.5%)
SFAE                           143.1     134.8       6.2%        6.5%
                            --------- --------- ---------- -----------
Total                         $363.1    $352.7       3.0%        2.2%

Sales at SFAE were favorably affected by an additional promotional
event in the month.

For the second quarter ended August 2, 2003 compared to the second 
quarter ended August 3, 2002, owned sales were:

                                                   Total    Comparable
                                                 Increase    Increase
                            This Year Last Year (Decrease)  (Decrease)
                            --------- --------- ---------- -----------
SDSG                          $746.8    $751.4      (0.6%)      (1.7%)
SFAE                           480.7     477.3       0.7%        1.0%
                            --------- --------- ---------- -----------
Total                       $1,227.5  $1,228.7      (0.1%)      (0.6%)

On a year-to-date basis, for the six months ended August 2, 2003 
compared to the six months ended August 3, 2002, owned sales were:

                                                   Total    Comparable
                            This Year Last Year (Decrease)  (Decrease)
                            --------- --------- ---------- -----------
SDSG                        $1,541.7  $1,565.2      (1.5%)      (2.3%)
SFAE                         1,056.9   1,079.6      (2.1%)      (1.8%)
                            --------- --------- ---------- -----------
Total                       $2,598.6  $2,644.8      (1.7%)      (2.1%)

Merchandise categories with the best sales performances for SDSG in July were home, cosmetics, dresses, and private brand. Categories with softer sales performances for SDSG in July were men's sportswear, women's petite sportswear, and shoes. Categories with the best sales performances for SFAE in July were women's designer and “gold range” apparel, women's contemporary sportswear, men's clothing and dress furnishings, jewelry, shoes, handbags, and cosmetics. Categories and businesses with the softest performances for SFAE in July were private brand women's apparel, children's apparel, and Saks Off 5th.