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Sep15
Can Saks Inc. (SKS) Catch Up?

The Associated Press reports that Saks (SKS) has some catching up to do. It seems that the company is behind Neiman Marcus and Nordstrom in terms of product offerings and personalized customer service.

Perhaps things will change with the management changes that have Saks Fifth Avenue Logo.jpgtaken place in the past few months - Andrew Jennings resigned as president and chief operating officer of Saks Fifth Avenue Enterprises and Fred Wilson, who was chairman and CEO of Saks Fifth Avenue Enterprises for three years, resigned as well.

The new management has plans to rebuild its fashion image. The company has been catering to young shoppers which has left “older” shoppers in the dust, so to speak.

"But we are beginning to see the light at the end of the tunnel. You will see a good fall, and it will continue through next year,” said Ron Frasch, vice chairman and chief merchant at Saks Fifth Avenue Enterprises, in a statement to the press.

I’m not a Saks shopper, so I can’t comment here, but I’d love to hear about your experiences!

Source: The Detroit News Online


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