Saks Looks to Sell Department Stores

Birmingham, Ala. (Chain Stoe Age) - Saks, Inc. is looking to sell its mid-price department stores in two separate clusters, according to today’s Wall Street Journal. The paper says that a sale of the stores may clear the way for a sale of the retailer’s luxury Saks Fifth Avenue division.

Saks would reportedly split its department stores into a northern division and a southern division, each to be sold separately. The northern group would include the retailer’s Carson Pirie Scott, Bergner’s Boston Store, Younkers and Herberger’s banners. In the southern division, there would be the McRae’s and Proffitt’s chains. A third southern chain, Parisian, may be excluded from the sale of the southern division.