Saks January Comps Up 6.6%

Retailer Saks Incorporated announced that for the four weeks ended January 31, 2004 compared to the four weeks ended February 1, 2003 total sales increased 7.8% and comparable store sales increased 6.6% on a total company basis. By segment, comparable store sales ncreased 3.3% for SDSG and increased 10.9% for SFAE for the month. Sales below are in millions and represent sales from owned departments only.

For the four weeks ended January 31, 2004 compared to the four weeks
ended February 1, 2003, owned sales were:

                                                    Total   Comparable
                            This Year  Last Year   Increase  Increase
                            ---------- ---------- --------- ----------
SDSG                        $   192.1  $   184.6       4.0%       3.3%
SFAE                            155.5      137.7      12.9%      10.9%
                             ---------  --------- --------- ----------
Total                       $   347.6  $   322.3       7.8%       6.6%


For the quarter ended January 31, 2004 compared to the quarter ended
February 1, 2003, owned sales were:

                                                    Total   Comparable
                            This Year  Last Year   Increase  Increase
                            ---------- ---------- --------- ----------
SDSG                        $ 1,195.8  $ 1,151.4       3.9%       3.2%
SFAE                            755.2      672.7      12.3%      10.4%
                             ---------  --------- --------- ----------
Total                       $ 1,951.0  $ 1,824.1       7.0%       5.9%


For the fiscal year ended January 31, 2004 compared to the fiscal year
ended February 1, 2003, owned sales were:

                                                    Total   Comparable
                            This Year  Last Year   Increase  Increase
                            ---------- ---------- --------- ----------
SDSG                        $ 3,599.7  $ 3,554.0       1.3%       0.4%
SFAE                          2,407.3    2,312.6       4.1%       3.4%
                             ---------  --------- --------- ----------
Total                       $ 6,007.0  $ 5,866.6       2.4%       1.6%

Merchandise categories with the best sales performances for SDSG
in January were cosmetics, furniture and hard home, shoes,
accessories, dresses, and better women's sportswear. Categories with
softer sales performances for SDSG in January were children's apparel,
juniors' apparel, and men's sportswear. Categories with the best sales
performances for SFAE in January were women's contemporary sportswear
and designer apparel, men's advanced sportswear, cosmetics,
accessories, shoes, and outerwear. Categories with the softest
performances for SFAE in January were intimate apparel and children's
apparel.