SEC FORM 4/A

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

WRIGHT DONALD E

(Last)

(First)

(Middle)

3038 SOUTH COVE DRIVE

(Street)

BIRMINGHAM

35216

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
SAKS INC [ SKS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Senior Vice President/Finance

3. Date of Earliest Transaction (Month/Day/Year)
11/20/2003

4. If Amendment, Date of Original Filed (Month/Day/Year)
11/20/2003

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	11/20/2003		M		45,000	A	$9.875	143,408	D
Common Stock	11/20/2003		M		45,000	A	$11.125	188,408	D
Common Stock	11/20/2003		M		2,529	A	$11.4375	190,937	D
Common Stock	11/20/2003		F		9,579	D	$15.69	181,358	D
Common STock	11/20/2003		F		62,073	D	$15.69	119,285	D
Common Stock	11/20/2003		S		30,000	D	$15	89,285	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Non-Qualified Stock Option	$9.875	11/20/2003		M			45,000	⁽¹⁾	⁽²⁾	Common STock	45,000	$9.875	408,358	D
Non-Qualified Stock Options	$11.125	11/20/2003		M			45,000	⁽³⁾	⁽⁴⁾	Common Stock	45,000	$11.125	363,358	D
Non Qualified Stock Option	$11.4375	11/20/2003		M			2,529	⁽⁵⁾	⁽⁶⁾	Common Stock	2,529	$11.4375	360,829	D
Non-Qualified Stock option	$15.69	11/20/2003		A		71,651		05/20/2004	11/01/2010	Common STock	71,651	⁽⁷⁾	432,480	D

Explanation of Responses:

1. Option vested as follows: 20% 5/1/01; 20% 11/1/01; 20% 11/1/02; 20% 11/1/03; and 20% 11/1/04.

2. Option expires on 11/01/2010 or 6 months from when SKS stock reaches $22, whichever comes first.

3. Option vests as follow: 25% 8/18/01, 25% 6/18/02, 25% 4/18/03, and 25% 2/18/04.

4. Option expires on 2/18/2010.

5. Option vests as follows: 20% 11/1/00; 20% 5/1/01, 20% 5/1/02, 20% 5/1/03, and 20% 5/1/04.

6. option expires on 5/01/2010

7. Stock option grant. No price necessary.

Remarks:

	Donald E. Wright	11/24/2003
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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