NEW YORK -- Saks Incorporated's Saks Fifth Avenue OFF 5TH today announced that it plans to open four new stores this year - Kansas City, KS, Oklahoma City, OK, Northbrook, IL and Charleston, SC. Additionally, OFF 5TH will open a new store at the Market at Town Center in Sugar Land, TX that will replace its store located at The Fountains in Stafford, TX.
"We look forward to expanding our Saks Fifth Avenue OFF 5TH store base into several new markets and to provide our customers in southwest Houston with a state-of-the-art store in Sugar Land," noted Robert Wallstrom, President of Saks Fifth Avenue OFF 5TH.
The stores will range from 25,000 to 28,000 square feet and will be modeled in Saks Fifth Avenue OFF 5TH's innovative 'luxury in a loft' store design. Since its debut in 2008, the innovative layout has been well received and set a new standard in outlet shopping. This new design maximizes efficiency and flexibility, enabling easy changes in the general layout. The stores will be bright, uncluttered, with no hard aisles and one consistent hard-surface floor throughout. All fixtures will be on casters, ensuring ease in movement, and all hardware will be interchangeable between fixtures.
A distinctive assortment of luxury brands at great prices will be available in the new stores. Shoppers will have access to a broad selection in key merchandise categories such as womenswear, menswear, children's, fine jewelry, beauty, shoes, handbags, and sunglasses.
In celebration of the openings, each new store will host local launch festivities with special discounts and raffles. Additionally, customers will be able to participate in Saks Fifth Avenue OFF 5TH's MORE! Rewards loyalty program. This free program offers weekly discounts, sales and promotions on merchandise throughout the store.
About Saks Fifth Avenue OFF 5TH
Saks Fifth Avenue OFF 5TH is the savvy shopper's premier source for value-priced designer clothing and accessories, offering customers an exceptional array of both coveted designer names and unique merchandise under the Saks Fifth Avenue label. Saks Fifth Avenue OFF 5TH places the highest priority on style, selection, and customer service. Today, there are a total of 57Saks Fifth Avenue OFF 5TH stores in 23 states. Saks Fifth Avenue OFF 5TH is a part of Saks Incorporated (NYSE: SKS) which also operates 46 Saks Fifth Avenue stores and saks.com.
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.
The forward-looking information and statements are or may be 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 luxury apparel and other merchandise carried by the Company and its ability to respond quickly to consumer trends; macroeconomic conditions and their effect on consumer spending; the Company's ability to secure adequate financing; adequate and stable sources of merchandise; the competitive pricing environment within the retail sector; the effectiveness of planned advertising, marketing, and promotional campaigns; favorable customer response to relationship marketing efforts of proprietary credit card loyalty programs; appropriate inventory management; effective expense control; successful operation of the Company's proprietary credit card strategic alliance with HSBC Bank Nevada, N.A.; geo-political risks; the performance of the financial markets; changes in interest rates; and fluctuations in foreign currency and exchange rates. For additional information regarding these and other risk factors, please refer to the Company's filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended January 29, 2011, its Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K, which may be accessed via the Internet at www.sec.gov .
The Company undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events, or otherwise.
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