EX-99 3 a4449020ex99.txt EXHIBIT 99 PRESS RELEASE Exhibit 99 Saks Incorporated Announces July Sales Saks Incorporated will release results for the second quarter ended August 2, 2003 on Tuesday, August 19, 2003 at 8:00 a.m. Eastern Time. Management has scheduled a conference call at 9:30 a.m. Eastern Time on Tuesday, August 19, 2003 to discuss the results. To participate, please call (706) 643-1966. To be placed on the Company's e-mail notification list for press releases, SEC filings, certain analytical information, and/or upcoming events, please go to www.saksincorporated.com, click on "Investor Relations," click on "e-mail Alerts," and fill out the requested information. BIRMINGHAM, Ala.--(BUSINESS WIRE)--Aug. 7, 2003--Retailer Saks Incorporated (NYSE:SKS) (the "Company") today announced that comparable store sales for the four weeks ended August 2, 2003 compared to the four weeks ended August 3, 2002 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. Saks Incorporated operates Saks Fifth Avenue Enterprises (SFAE), which consists of 60 Saks Fifth Avenue stores and 53 Saks Off 5th stores. The Company also operates its Saks Department Store Group (SDSG) with 241 department stores under the names of Parisian, Proffitt's, McRae's, Younkers, Herberger's, Carson Pirie Scott, Bergner's, and Boston Store and 13 Club Libby Lu specialty stores. Forward-looking Information The information contained in this press release that addresses future results or expectations is considered "forward-looking" information within the definition of the Federal securities laws. Forward-looking information in this document can be identified through the use of words such as "may," "will," "intend," "plan," "project," "expect," "anticipate," "should," "would," "believe," "estimate," "contemplate," "possible," and "point." The forward-looking information is premised on many factors, some of which are outlined below. Actual consolidated results might differ materially from projected forward-looking information if there are any material changes in management's assumptions. The forward-looking information and statements are based on a series of projections and estimates and involve risks and uncertainties. These risks and uncertainties include such factors as: the level of consumer spending for apparel and other merchandise carried by the Company and its ability to respond quickly to consumer trends; adequate and stable sources of merchandise; the competitive pricing environment within the department and specialty store industries as well as other retail channels; the effectiveness of planned advertising, marketing, and promotional campaigns; favorable customer response to increased relationship marketing efforts of proprietary credit card loyalty programs; effective expense control; successful implementation of the Company's proprietary credit card strategic alliance with Household Bank (SB), N.A.; and changes in interest rates. For additional information regarding these and other risk factors, please refer to Exhibit 99.3 to the Company's Form 10-K for the fiscal year ended February 1, 2003 filed with the Securities and Exchange Commission ("SEC"), which may be accessed via EDGAR through the Internet at www.sec.gov. Management undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events, or otherwise. Persons are advised, however, to consult any further disclosures management makes on related subjects in its reports filed with the SEC and in its press releases. CONTACT: Saks Incorporated, Birmingham Julia Bentley, 865-981-6243 www.saksincorporated.com