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Saks Inc. to Spin Off Signature Fifth Avenue Store
In a bid to stimulate its earnings and stock price, Saks Inc.(SKS Quote) said Wednesday that it plans to spin off its Saks Fifth Avenue, Saks Direct and Saks Off 5th operations into a distinct, publicly traded company.
The newly formed company, which will be known as Saks Fifth Avenue Enterprises, will have its headquarters at the Saks Fifth Avenue offices in New York City.
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