8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 5, 2008

SAKS INCORPORATED

(Exact name of registrant as specified in its charter)

TENNESSEE	1-13113	62-0331040
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

12 East 49th Street New York, New York	10017
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (212) 940-5305

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events.

On June 5, 2008, Saks Incorporated announced sales for the four weeks ended May 31, 2008, compared to the four weeks ended June 2, 2007. The June 5, 2008 news release is incorporated herein by reference and is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit	Description of Document
99.1	Saks Incorporated June 5, 2008 news release announcing sales for the four weeks ended May 31, 2008.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	SAKS INCORPORATED
Date: June 5, 2008	/s/ Kevin G. Wills
	Kevin G. Wills Executive Vice President and Chief Financial Officer

EX-99.1

Exhibit 99.1

SAKS INCORPORATED ANNOUNCES MAY COMPARABLE

STORE SALES

	Contact:      Julia Bentley
	(865) 981-6243
FOR IMMEDIATE RELEASE	www.saksincorporated.com

New York, New York (June 5, 2008)—Retailer Saks Incorporated (NYSE: SKS) (the “Company”) today announced that owned sales totaled $227.2 million for the four weeks ended May 31, 2008 compared to $248.9 million for the four weeks ended June 2, 2007, an 8.7% decrease. Comparable store sales decreased 8.7% for the period.

On a year-to-date basis, for the four months ended May 31, 2008, owned sales totaled $1,080.6 million compared to $1,034.5 million for the prior year four month period ended June 2, 2007, a 4.5% increase. Comparable store sales increased 4.3% for the four-month period.

Sales performance for May was negatively affected by the acceleration of a spring season clearance event into the last week of April this year from the first week of May last year. For the two months combined, comparable store sales increased 8.6%.

For May, the strongest categories at Saks Fifth Avenue were men’s contemporary apparel, shoes, and accessories; jewelry; and cosmetics and fragrances. The weakest categories at Saks Fifth Avenue for May were women’s classic, modern, and petite apparel. Saks Direct and Saks Off 5th performed well for the month.

For the second fiscal quarter in the aggregate, management expects low single digit comparable store sales growth, modestly reduced year-over-year promotional activity, and modest year-over-year improvement in the gross margin rate.

Saks Incorporated currently operates Saks Fifth Avenue, which consists of 54 Saks Fifth Avenue stores, 48 Saks Off 5th stores, and saks.com. The Company also operates Club Libby Lu specialty stores.

Forward-looking Information

The information contained in this press release that addresses future results or expectations is considered “forward-looking” information within the definition of the Federal securities laws. Forward-looking information in this document can be identified through the use of words such as “may,” “will,” “intend,” “plan,” “project,” “expect,” “anticipate,” “should,” “would,” “believe,” “estimate,” “contemplate,” “possible,” and “point.” The forward-looking information is premised on many factors, some of which are outlined below. Actual consolidated results might differ materially from projected forward-looking information if there are any material changes in management’s assumptions.

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The forward-looking information and statements are or may be based on a series of projections and estimates and involve risks and uncertainties. These risks and uncertainties include such factors as: the level of consumer spending for apparel and other merchandise carried by the Company and its ability to respond quickly to consumer trends; adequate and stable sources of merchandise; the competitive pricing environment within the retail sector; the effectiveness of planned advertising, marketing, and promotional campaigns; favorable customer response to relationship marketing efforts of proprietary credit card loyalty programs; appropriate inventory management; effective expense control; successful operation of the Company’s proprietary credit card strategic alliance with HSBC Bank Nevada, N.A.; geo-political risks; changes in interest rates; and fluctuations in foreign currency and exchange rates. For additional information regarding these and other risk factors, please refer to the Company’s filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended February 2, 2008, its Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K, which may be accessed via EDGAR through the Internet at www.sec.gov.

Management undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events, or otherwise. Persons are advised, however, to consult any further disclosures management makes on related subjects in its reports filed with the SEC and in its press releases.

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