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Press release from Business Wire

Saks Incorporated Names Michael Burgess President, Saks Direct

Wednesday, April 04, 2012

Saks Incorporated Names Michael Burgess President, Saks Direct15:00 EDT Wednesday, April 04, 2012 NEW YORK (Business Wire) -- Retailer Saks Incorporated (NYSE: SKS) (“Saks” or the “Company”) today announced that Michael Burgess has been named President, Saks Direct, effective May 7, 2012. Burgess will report to Denise Incandela, Executive Vice President and Chief Marketing Officer for Saks Fifth Avenue and current President, Saks Direct. Burgess has served as Executive Vice President of the Consumer Division of FTD at United Online since 2008 where he led merchandising, marketing, consumer information technology, and several other functions of the growing FTD North America business segment. Burgess held the post of Vice President and General Manager, Internet Business, of Teleflora LLC between 2006 and 2008. Prior to that, he held various executive positions with Better Life Media, Inc., Selby Venture Partners, ForRetail, and Crossworlds Software, Inc. He began his business career at McKinsey & Company, where he led and served on teams providing strategic management services to several Global 500 companies in a variety of industries. Burgess earned his Bachelor of Commerce in Finance and his Bachelor of Laws from the University of New South Wales in Sydney, Australia and his MBA from the Stanford Graduate School of Business. Chairman and Chief Executive Officer of Saks, Steve Sadove, commented, “Michael is a proven leader with a terrific track record of industry-leading performance. His experience as a business operator in strategically growing online organizations makes him a great fit for this important role. He will be a strong partner to Denise Incandela and the rest of the team at Saks.” Incandela noted, “I am very pleased that Michael is joining Saks. His deep expertise in the digital space is impressive, and his strong leadership skills, particularly his experience in attracting and retaining exceptional associates and building high performance cultures, will make him an ideal President of Saks Direct.” The Company currently operates 45 Saks Fifth Avenue stores, 61 Saks Fifth Avenue OFF 5TH stores, and saks.com. Saks Fifth Avenue is proud to be named a J.D. Power and Associates 2012 Customer Service Champion and is only one of 50 U.S. companies so named. Forward-looking InformationThe 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/A for the fiscal year ended January 28, 2012, its Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K, which may be accessed viathe 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. Saks IncorporatedJulia Bentley, 865-981-6243