Saks Total Comps Inch Up; Total Company Sales Fall

Retailer Saks Incorporated announced that for the four weeks ended November 26, 2005, total company comparable store sales increased 0.1%, but total sales decreased 14.5% compared to last year-s four-week period. By segment, comparable store sales increased 2.3% for SDSG and decreased 2.3% for SFAE for the month.

The company completed the sale of its SDSG Proffitt's/McRae's business to Belk, Inc. effective Midnight on July 2, 2005. Therefore, Proffitt's/McRae's sales are included in prior year sales and in current year sales through June 2005 (fiscal month ended July 2, 2005). Beginning in July 2005 (fiscal month beginning July 3, 2005), Proffitt's/McRae's sales are excluded from total company and comparable sales. The Saks Fifth Avenue store in New Orleans is closed due to hurricane damage and has been removed from the comparable store sales calculation. Revenues for the New Orleans store totaled approximately $5.8 million in November 2004.

For the four weeks ended November 26, 2005 compared to the four weeks ended November 27, 2004, owned sales were:

                                                            Comparable
                                                    Total    Increase
                           This Year  Last Year  (Decrease) (Decrease)
                           ---------  ---------  ---------- ----------
SDSG                       $  293.0   $  365.3     (19.8%)     2.3%
SFAE                          250.6      270.6     ( 7.4%)    (2.3%)
                           ---------  ---------  ---------- ----------
Total                      $  543.6   $  635.9     (14.5%)     0.1%

Merchandise categories with the best sales performances for SDSG in November were outerwear, intimate apparel, shoes, soft home, and junior's apparel. Categories with the softest sales performances for SDSG in November were women's moderate sportswear, women's petite sportswear, and men's sportswear. Categories with the best sales performances for SFAE in November were women's and men's contemporary sportswear, women's “gold range” apparel, and men's shoes. Categories with the softest performances for SFAE in November were private brand, women's bridge apparel, evening dresses, and Salon Z (women's large sizes).

On a year-to-date basis, for the ten months ended November 26, 2005 compared to the ten months ended November 27, 2004, owned sales were:

                                                    Total
                                                  Increase  Comparable
                           This Year  Last Year  (Decrease)  Increase
                           ---------  ---------  ---------- ----------
SDSG                       $2,533.2   $2,828.6     (10.4%)     0.1%
SFAE                        2,163.5    2,148.3       0.7%      4.2%
                           ---------  ---------  ---------- ----------
Total                      $4,696.7   $4,976.9     ( 5.6%)     2.0%