Today's pick (inside)... SKS
I N S I D E R T I P S
By MoneyMade
SAKS Fifth Avenue (NYSE:SKS)
Last 17 1/4 High 44.43
The company plans to go online very shortly with it's merchandise, Saks has intiated a share buy back program, and is aquiring 14 Dillard stores.
Saks completes buy of 14 Dillard properties
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BIRMINGHAM, Ala., Oct 2 (Reuters) - Retailer Saks Inc. said
Friday it completed its acquisition of the real and personal
property of 14 department store locations, along with certain
inventory and accounts receivable from Dillard's Inc.
SAKS INCORPORATED ANNOUNCES COMMON STOCK REPURCHASE OCT. 2, 1998--DEPARTMENT STORE COMPANY SAKS INCORPORATED (NYSE: SKS) TODAY ANNOUNCED
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BIRMINGHAM, Ala.--(BUSINESS WIRE)--Oct. 2, 1998--Department store
company Saks Incorporated (NYSE: SKS.N) today announced that its Board
of Directors has authorized a stock repurchase program to purchase up
to 500,000 shares of Company Common Stock on the open market. The
share purchases may begin immediately. The Company currently has
approximately 143 million shares of Common Stock issued and
outstanding.
Saks Incorporated currently operates over 330 stores under the
names of Saks Fifth Avenue, Proffitt's, McRae's, Younkers, Parisian,
Herberger's, Carson Pirie Scott, Bergner's, Boston Store, and Off 5th.
The Company's annual revenues exceed $6 billion.
--30--KO/na*
CONTACT: Saks Incorporated
Julia Bentley, 423/981-6243
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