Saks Incorporated Announces Purchase of Two Former Montgomery Ward Locations.Business Editors BIRMINGHAM, Ala.--(BUSINESS WIRE)--July 10, 2001 Retailer Saks Incorporated (NYSE NYSE See: New York Stock Exchange : SKS) (the "Company") today announced it has acquired two store locations from Montgomery Ward & Co. The Company has purchased the 91,400 square foot Apache Mall store in Rochester, Minnesota and the 148,900 square foot Bay Park Square Bay Park Square is a shopping mall owned by Simon Property Group, in the Green Bay, Wisconsin suburb of Ashwaubenon, in the United States. The mall opened in 1980, and is located blocks away from Lambeau Field on South Oneida Street. store in Ashwaubenon, Wisconsin (metropolitan Green Bay). The Apache Mall location will be renovated and opened as a Carson Pirie Scott Carson Pirie Scott & Co., known informally as Carson's, is a chain of traditional department stores that have been in business for over 150 years. Their product price points are targeted to the moderate-to-upscale shopper. store in fall 2002. The Company will open a Younkers Younkers is a department store chain in the Midwestern United States. The chain concentrates on the middle and upper-class segments of the market. History Beginnings store in the Bay Park Square center at a date yet to be determined, either in late 2002 or in 2003. The Company's Carson Pirie Scott and Younkers stores carry a wide selection of fashion apparel, shoes, and accessories for the entire family, as well as cosmetics, decorative home furnishings, and specialty gift items. The stores feature premier branded and unique specialty merchandise. Brands typically carried in Carson Pirie Scott and Younkers stores include Liz Claiborne, Polo/Ralph Lauren, Tommy Hilfiger, Nautica, Enzo, Nine West, Calvin Klein, Vanity Fair, Croscill, Estee Lauder, Clinique, and Lancome. Michael R. MacDonald, President of the Company's Northern Department Stores Group, commented, "We are excited about our new stores in the important Rochester and Green Bay markets. We look forward to serving our customers in these newly renovated, showcase facilities which will feature our outstanding merchandise selections and the exceptional customer service that have long been associated with both Carson Pirie Scott and Younkers." Saks Incorporated operates its Saks Department Store Group (SDSG SDSG Space Division Switching Group SDSG Spinal Deformity Study Group SDSG Software Development Support Group (Nintendo) ) with 40 Parisian specialty department stores and 203 traditional department stores under the names of Proffitt's, McRae's, Younkers, Herberger's, Carson Pirie Scott, Bergner's, and Boston Store. The Company also operates Saks Fifth Avenue Saks Fifth Avenue is a chain of upscale American department stores that is owned and operated by Saks Fifth Avenue Enterprises (SFAE), a subsidiary of Saks Incorporated. It competes in the elite luxury department store market with Neiman Marcus, Bergdorf Goodman and Barneys New Enterprises (SFAE SFAE San Francisco Art Exchange SFAE Staff For Acquisition Executive ), which consists of 62 Saks Fifth Avenue stores, 50 Saks Off 5th stores, and Saks Direct. The Company's annual revenues exceed $6 billion. |
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