Saks, Inc.
American defunct holding company / From Wikipedia, the free encyclopedia
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This article is about the defunct holding company. For the department store chain, see Saks Fifth Avenue.
Saks, Inc. (originally Proffitt's, Inc.) was an American holding company founded in 1919. Before acquisition by the Canadian-founded Hudson's Bay Company in 2013, it held ownership of department store chains including New York City-based Saks Fifth Avenue (1998–2013) and Tennessee-based Proffitt's (1919–2005). It acquired several mid-range department store chains in the 1990s, however, refocused on upscale retailing and divested of them in the mid-2000s.
Quick Facts Formerly, Company type ...
Formerly | Proffitts, Inc. (1919–1998) |
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Company type | Public |
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Industry | Retail |
Genre | Department stores |
Founded | 1919; 105 years ago (1919) in Maryville, Tennessee, U.S. |
Defunct | November 4, 2013; 10 years ago (2013-11-04) |
Fate | Acquired by Hudson's Bay Company |
Headquarters | New York City, New York, U.S. , US |
Number of locations | 46 full-line, 69 off-price (2013) |
Area served | |
Key people |
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Revenue | US$ 3.147 billion (2013) |
US$ 138.49 million (2013) | |
US$ 62.88 million (2013) | |
Total assets | US$ 2.09 billion (2013) |
Total equity | US$ 1.149 billion (2013) |
Number of employees | 12,900 (2011) |
Subsidiaries | |
Website | Official website at the Wayback Machine (archived December 8, 2013) |
Footnotes / references [1][2] |
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HBC maintains the Saks Fifth Avenue nameplate through the full-line department stores, Saks Off 5th off-price stores, and SaksWorks coworking space provider.