This past week Saks Inc. (SKS) confirmed that the company will be selling its Parisian department stores to Belk Inc. for $285 million cash. Parisian has about 38 locations throughout the Southeast and Midwest and prides itself on providing "personalized service, and a balanced assortment of better-priced brands and unique products". I've never shopped in a Parisian store before, but browsing through their website, I do agree that they do have unique products...and fell in love with 
this City Unltd. top pictured here.
So, back to the sale of Parisian...Belk will acquire the leases and inventory of the 38 Parisian stores including the headquarters building and distribution center located in Alabama.
Now Saks has the energy to focus on other business! Check out their July comparable store sales which was announced yesterday...
Comment Preview