Saks Fifth Avenue

• Team became involved when Saks Fifth Avenue was part of underperforming company which also included Proffitt’s, Carson Pirie Scott, Younkers, Herberger’s, Boston Store and Parisian

  • Rationalized costs and made strategic decision to exit all non-Saks Fifth Avenue assets; sold other brands on favorable terms

  • Exited 1/3 of store base and reinvested with innovative concepts including a shoe store with its own zip code (10022-SHOE), resulting in significant SSS growth

  • Created leading luxury internet business with sales approaching $800 million

  • Accelerated growth of outlet business through the addition of units, improvement of SSS growth and development of OffFifth.com

• Sold Saks Fifth Avenue in November 2013 for 13x EBITDA

  • Premium multiple for the department store segment