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Saks plans Off 5th prototype

March 06, 2008

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During its fourth-quarter conference call, Saks Inc. announced that the first of its new prototype of discount chain Off Saks will open next month in Orlando, GlobeSt.com reported.

Management is planning $125 million in capital expenditures for the year. Three to four of the new prototype will open, and renovations or expansions are expected in Saks Fifth Avenue department stores in Bal Harbor, Naples, Boston, Houston and Los Angeles.

Stephen Sadove—chairman and chief executive officer for Saks—reported a slowdown across all “zones of business.” However, he emphasized the impact on the lower end.
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