Saks Incorporated (NYSE: SKS), formerly known as Proffitt's Inc., is a Fortune 500 operator of high-end department stores in the United States. After going public in 1987, Proffit's Inc. completed acquisitions of several department stores. The company was renamed to Saks Incorporated in 1998 after the acquisition of Saks Holdings, which brought the Saks Fifth Avenue and Saks Off 5th franchises, as well as Folio, a mail-order business and Saks.com...
more
Saks Incorporated (NYSE: SKS), formerly known as Proffitt's Inc., is a Fortune 500 operator of high-end department stores in the United States. After going public in 1987, Proffit's Inc. completed acquisitions of several department stores. The company was renamed to Saks Incorporated in 1998 after the acquisition of Saks Holdings, which brought the Saks Fifth Avenue and Saks Off 5th franchises, as well as Folio, a mail-order business and Saks.com, an online retailer.
Proffitt's Inc. began as five Proffitt’s stores in the Knoxville, Tennessee metropolitan area. The company went public on the NASDAQ under the symbol PRFT. The company continued to grow and in 1989 purchased 18 Hess's locations in Tennessee, Virginia, Kentucky, and Georgia. From 1994 to 1998, the company added McRae's, Younkers, Parisian, Herberger's, Carson Pirie Scott, Boston Store, and Bergner's chains, as well as additional stores from Loveman's, Parks-Belk, and Brody's, which were converted into existing store...
less
