Saks Fifth Avenue

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Saks Fifth Avenue is a chain of upscale department stores that is a subsidiary of Saks Incorporated. It competes on an average price level on par with Neiman Marcus. Saks Fifth Avenue is headquartered in New York City, while its parent is headquartered in Birmingham, Alabama.

The company owns 55 store across the United States.

Contents 1 History 2 Trivia and Pop Culture 3 Locations in the United States 3.1 Alabama 3.2 Arizona 3.3 California 3.4 Colorado 3.5 Connecticut 3.6 District of Columbia 3.7 Florida 3.8 Georgia 3.9 Illinois 3.10 Indiana 3.11 Louisiana 3.12 Maryland 3.13 Massachusetts 3.14 Michigan 3.15 Missouri 3.16 Nevada 3.17 New Jersey 3.18 New York 3.19 North Carolina 3.20 Ohio 3.21 Oklahoma 3.22 Oregon 3.23 Pennsylvania 3.24 South Carolina 3.25 Texas 3.26 Virginia 4 International locations 4.1 Saudi Arabia 5 Former locations 6 External links

History

Saks Fifth Avenue is the successor of a business founded in 1867 and incorporated in New York in 1902 as Saks & Company. In 1923 Saks & Co. merged with Gimbel's converting the stores into the Saks nameplate. In 1924, Horace Saks and Bernard Gimbel opened Saks Fifth Avenue in 1924 in New York City.

When Adam Gimbel became President of Saks Fifth Avenue in 1926, the company took on national aspirations. The very first branch store opened in 1926 the city of Palm Beach, Florida as a resort store, followed by a Southhampton resort store in 1928. The first full-line year-round Saks store was opened in Chicago, Illinois in 1929, followed by another resort store in Miami Beach, Florida. In 1938 Saks expanded to the West Coast, opening in Beverly Hills. By the end of the 1930s Saks Fifth Avenue had a total of 10 stores, including resort locations such as Sun Valley, Mount Stowe and Newport. More full-line stores followed with Detroit in 1940, Pittsburgh in 1949. The company moved to its own freestanding location approximately one block from its former home in the Gimbel's flagship. The San Francisco location opened in 1952. More expansion followed in the 1960s.

B.A.T. Industries PLC through its subsidiary, BATUS, Inc. acquired the Saks-Gimbel's organization in 1973, and operated Saks Fifth Avenue as part of its BATUS Retail Group (which came to include Marshall Field's, Ivey's, Kohl's, and Frederick & Nelson). By 1990, when BATUS had decided to exit the retail business (faced with a takeover, it was rationalizing its businesses), Saks had 48 stores nationwide. An investor group led by Investcorp S.A. (a Bahrain-based investment company) won a bidding war, acquiring Saks for $1.5 Billion in June of that year.

Image:Saks Fifth Avenue at Town Center at Boca Raton.JPG

After an early 1990's retrenchment in California that saw the closing of stores in Woodland Hills, Palo Alto, Mission Valley Center in San Diego and in La Jolla, Saks picked up 4 locations from I. Magnin after Federated Department Stores shut that division down, using them to re-open in San Diego at Fashion Valley, replace its smaller, outdated store at Biltmore Fashion Park in Phoenix and operate dual-outlet expansions in Carmel and Beverly Hills. It then rolled out a new smaller store format, dubbed "Main Street", using this to open new stores in Santa Barbara, Palos Verdes, Pasadena, La Jolla, and Danville (closed after 11 months).

Investcorp floated Saks Holdings, Inc. on the New York Stock Exchange in March 1996, an existence that was short-lived however, as in July 1998, Proffitt's, Inc., a Birmingham, Alabama-based chain of middle-tier department stores acquired Saks Holdings, Inc. for $2.1 Billion in stock and renamed itself Saks, Incorporated.

As part of Saks, Incorporated, Saks began to expand again, opening stores in Mission Viejo, California, Raleigh, North Carolina, Hurst, Texas and Indianapolis, Indiana among others. But in the wake of September 11, 2001 and the stalled internet economy, Saks elected to bring more moderate selections into its merchandising, a strategy that seemed to ignore its core, affluent customers, who turned to rival Neiman Marcus. Saks Fifth Avenue once again retrenched in 2004-2005, shutting down the 1990's La Jolla and Palos Verdes stores along with 9 others nationwide (see lised of closed store below). In a final unwinding of the late 1990s strategy, its corporate parent, Saks, Incorporated divested its various middle-market operations in 2005 and 2006.

Trivia and Pop Culture

Saks Fifth Avenue's main competitor is Neiman Marcus, a department store based in Dallas, Texas.

Winona Ryder was caught shoplifting at Saks Fifth Avenue in Beverly Hills. A parody about this was played out in the movie White Chicks.

Locations in the United States

Alabama

• Birmingham - The Summit - 99,500 sq. ft. (opened 2001)

Arizona

• Phoenix - Biltmore Fashion Park - 90,000 sq. ft. (opened 1994, replacement)

California

• Los Angeles MSA/Beverly Hills - Wilshire Boulevard (freestanding) - 170,000 sq. ft. (opened 1938)
• Los Angeles MSA/Beverly Hills - Wilshire Boulevard West (freestanding) - 115,000 sq. ft. (opened 1995)
• Los Angeles MSA/Palos Verdes - The Avenue of the Peninsula - 47,000 sq. ft. (opened 1999, closing announced, unscheduled)
• Los Angeles MSA/Costa Mesa, Orange County - South Coast Plaza - 105,000 sq. ft. (opened 1979)
• Los Angeles MSA/Mission Viejo, Orange County - The Shops at Mission Viejo - 100,000 sq. ft. (opened 1999, closing announced, unscheduled)
• Palm Desert - The Gardens on El Paseo - 50,000 sq. ft. (opened 1999)
• San Diego - Fashion Valley Mall - 80,000 sq. ft. (opened 1995)
• San Francisco - Union Square (freestanding) - 136,000 sq. ft. (opened 1952)
• San Francisco - Union Square Men's (freestanding) - 35,000 sq. ft. (opened 1997)
• Santa Barbara - State Street (freestanding) (opened 1999)

Colorado

• Denver - Cherry Creek Shopping Center - 90,000 sq. ft. (opened 1990)

Connecticut

• Bridgeport-Stamford-Norwalk MSA/Greenwich, Connecticut - Greenwich Avenue (freestanding) - 36,000 sq. ft. (opened 1996)
• Bridgeport-Stamford-Norwalk MSA/Stamford - Stamford Town Center - 80,000 sq. ft. (opened 1982)

District of Columbia

• Washington D.C. - Mazza Gallerie Men's (on Wisconsin Avenue) - 22,000 sq. ft. (opened 2000)

Florida

• Bradenton/Sarasota MSA/Sarasota - Westfield Southgate - 40,000 sq. ft. (opened 1996),
• Fort Myers - The Bell Tower Shops - 40,000 sq. ft. (opened 1996)
• Naples - Waterside Shops at Pelican Bay - 65,000 sq. ft. (opened 1992, expanding 2007)
• Orlando - The Florida Mall - 106,000 sq. ft. (opened 1996)
• South Florida MSA/Fort Lauderdale, Broward County - The Galleria at Fort Lauderdale - 74,000 sq. ft. (opened 1980)
• South Florida MSA/Bal Harbour, Dade County - Bal Harbour Shops - 140,000 sq. ft.
• South Florida MSA/Miami, Dade County - Dadeland Mall - 160,000 sq. ft. (opened 1984)
• South Florida MSA/Boca Raton, Palm Beach County - Town Center at Boca Raton - 144,000 sq. ft. (opened 1999, replacement)
• South Florida MSA/Palm Beach, Palm Beach County - Worth Avenue (freestanding) - 37,000 sq. ft. (opened 1926)
• South Florida MSA/Palm Beach Gardens, Palm Beach County - The Gardens Mall - 75,000 sq. ft. (opened 1991)
• Tampa-St. Petersburg MSA/Tampa - WestShore Plaza - 99,500 sq. ft. (opened 1998)

Georgia

• Atlanta - Phipps Plaza - 170,000 sq. ft. (opened 1969)

Illinois

• Chicago - Chicago Place on Michigan Avenue - 160,000 sq. ft. (opened 1990, replacement)
• Chicago - Michigan Avenue Men's (freestanding) - 30,000 sq. ft. (opened 1999)
• Chicago MSA/Highland Park - Renaissance Place - 50,000 sq. ft. (opened 2000)

Indiana

• Indianapolis - The Fashion Mall at Keystone - 120,000 sq. ft. (opened 2003)

Louisiana

• New Orleans - The Shops at Canal Place - 108,000 sq. ft. (opened 1983; currently not in operation in the wake of citywide damage from Hurricane Katrina)

Maryland

• Washington, D.C. MSA/Chevy Chase - Wisconsin Avenue (freestanding) - 110,000 sq. ft. (opened 1963)

Massachusetts

• Boston - The Shops at Prudential Center - 110,000 sq. ft

Michigan

• Detroit MSA/Troy - The Somerset Collection - 160,000 sq. ft. (opened 1967)

Missouri

• St. Louis MSA/Frontenac - Plaza Frontenac - 123,000 sq. ft. (opened 1974)

Nevada

• Las Vegas - Fashion Show - 160,000 sq. ft. (opened 2002, replacement)

New Jersey

• New York MSA/Hackensack, Bergen County - The Shops at Riverside - 107,000 sq. ft. (opened 1977)
• New York MSA/Short Hills - The Mall at Short Hills - 120,000 sq. ft. (opened 1995)

New York

• New York MSA/Manhattan - 611 Fifth Avenue (flagship) - 646,000 sq. ft. (opened 1924)
• New York MSA/Huntington Station, Long Island - Walt Whitman Mall - 100,000 sq. ft. (opened 1999)
• Southampton - Hampton Road (freestanding) - 13,000 sq. ft. (opened 1928)

North Carolina

• Raleigh/Durham MSA/Raleigh - Triangle Town Center - 80,000 sq. ft. (opened 2004)

Ohio

• Cincinnati - Fifth Street (freestanding) - 76,000 sq. ft. (opened 1984)
• Cleveland MSA/Beachwood - Beachwood Place - 117,000 sq. ft. (opened 1978)
• Columbus - Polaris Fashion Place - 100,000 sq. ft. (opened 2001)

Oklahoma

• Tulsa - Utica Square - 62,000 sq. ft. (opened 1986)

Oregon

• Portland - Pioneer Place - 60,000 sq. ft. (opened 1990)

Pennsylvania

• Philadelphia MSA/Bala Cynwyd - Bala Plaza - 102,000 sq. ft. (opened 1969)
• Pittsburgh - Mellon Square (freestanding) - 100,000 sq. ft. (opened 1977)

South Carolina

• Charleston - Majestic Square (freestanding) - 30,000 sq. ft. (opened 1996)

Texas

• Austin - Arboretum Market - 55,000 sq. ft. (opened 1997)
• Dallas/Fort Worth Metroplex/Dallas - Galleria Dallas - 175,000 sq. ft. (opened 1999, replacement)
• Dallas/Fort Worth Metroplex/Hurst - North East Mall - 100,000 sq. ft. (opened 2000, closing announced, unscheduled)
• Dallas/Fort Worth Metroplex/Plano - The Shops at Willow Bend - 140,000 sq. ft. (opened 2004)
• Houston - The Galleria - 185,500 sq. ft. (opened 1997, to replace store on Post Oak Boulevard north of The Galleria between 1972-1997)
• San Antonio - North Star Mall - 104,000 sq. ft. (opened 1985)

Virginia

• Richmond - Stony Point Fashion Park - 80,000 sq. ft. (opened 2003)
• Washington D.C. MSA/McLean-Tysons Corner - Tysons Galleria - 120,000 sq. ft. (opened 1988)

International locations

Saudi Arabia

• Riyadh - Kingdom Center Tower

Former locations

• Carmel, California - Carmel Plaza - 48,000 sq. ft. (closed 1/2005)
• Los Angeles, California MSA/Pasadena - Pasadena (freestanding) - 34,000 sq.. ft. (opened 1998, closed 1/2005)
• Los Angeles, California MSA/Los Angeles (Woodland Hills) - The Promenade at Woodlands Hills - 120,000 sq. ft. (closed 1994 after Northridge Earthquake, replaced by AMC Theatre)
• Palm Springs, California - Desert Fashion Plaza - 50,000 sq. ft (opened 1984, closed 2001)
• San Diego, California - Mission Valley Center - 77,000 sq. ft. (closed 1994)
• San Diego, California MSA/La Jolla - La Jolla (freestanding) - 29,000 sq. ft. (closed 1994)
• San Diego, California MSA/La Jolla - La Jolla (freestanding) - 46,000 sq. ft. (opened 1997, closed 1/2005)
• San Francisco, California MSA/Danville - The Shops at Blackhawk - 50,000 sq. ft. (opened 1998, closed 1999, only open 11 months)
• San Jose, California MSA/Palo Alto - Stanford Shopping Center - 62,000 sq. ft. (opened 1962, closed 1994)
• Chicago, Illinois MSA/Oak Brook - Oakbrook Center - 91,000 sq. ft. (closed 12/2002, replaced by Bloomingdale's)
• Chicago, Illinois MSA/Skokie - Westfield Old Orchard - 105,000 sq. ft. (opened 1978, closed 7/2005)
• Detroit, Michigan MSA/Dearborn - Fairlane Town Center - 90,000 sq. ft. '(opened 1978, closed 2001, converted to Off 5th)
• Minneapolis, Minnesota - Gaviidae Common on Nicollet Mall - 84,000 sq. ft. (opened 1989, closed 1/2005, converted to Off 5th)
• Kansas City, Missouri - Country Club Plaza - 73,000 sq. ft. (opened 1982, closed 2/2005)
• New York MSA/Springfield, New Jersey - Springfield (freestanding) - 75,000 sq. ft. (opened 1957, closed 1994 with Short Hills opening)
• New York MSA/Garden City, Long Island, New York - Garden City (freestanding) - 106,000 sq. ft. (opened 1962, closed 1/2005)
• New York MSA/White Plains, Westchester County, New York - White Plains (freestanding) - 128,000 sq. ft. (opened 1954, closed 1/2002)
• Hilton Head, South Carolina - The Mall at Shelter Cove - 50,000 sq. ft. (opened 1997, closed 1/2005, converted to Off 5th)
• Houston, Texas - Town & Country Mall - 105,000 sq. ft. (opened 1997, closed 2000)
• Houston, Texas - The Pavilion at Post Oak - 125,000 sq. ft. (opened 1972, closed 1997)

External links

• Saks Fifth Avenue Official Website