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Restructuring / Turnaround Strategies Case Study
Case Title:
Redefining Saks
Publication Year : 2007
Authors: Philip Anil Kumar, Mridu Verma
Industry: Retail
Region: UK US
Case Code: RTS0161P
Teaching Note: Not Available
Structured Assignment: Not Available
Abstract:
Saks Inc was a $6.4 billion company and a leading player in the luxury retailing business with 359 department stores across 38 states in the United States. It operated through two business segments - Saks Department Store Group (SDSG) and Saks Fifth Avenue Enterprises (SFAE). SDSG operated branded stores like Younkers, Parisian, Herberger’s, Carson Pirie Scott (Carson’s), Bergner’s and Boston Store, and Club Libby Lu mall-based specialty stores. SFAE consisted of ‘Saks Fifth Avenue (SFA)’ luxury department stores and ‘Off 5th’, a discount designer clothing store.
Since 2000, Saks sales stagnated and its operating margins fell from 4% in 2004 to 2% in 2005. The company tried to consolidate its position and reinvent itself. This case study discusses the strategies adopted by Saks to transform itself.
Pedagogical Objectives:
- The case discusses strategies adopted by Saks to make over its losses and market position
- The case evaluates Saks marketing strategies, merchandising strategy and advertising campaigns to maintain its brand value
- The case also explores the challenges faced by Saks to improve its image and maintain its reputation for high quality in the competitive market.
Keywords : Saks Inc.; Saks Department Store group; Saks Fifth Avenue; Restructuring / Turnaround Strategies Case Study; Off 5th Stores; British American Tobacco Company; Investcorp International Inc.; Gap; JC Penny; Abercrombie & Fitch; Bloomingdale; Profitt; Versace; Helmutt Lang; Neiman Marcus; Nordstrom
