No More Sales at Saks?

Posted Aug 31st 2009 at 5:40PM by Melissa Schweiger (Subscribe to Melissa Schweiger's posts)

Filed under: Fashion, News, Best of the Season, Designers & Brands

Saks won't be offering sales this season. Photo: Brian Ach, Getty Images for IMG

No more sales at Saks Fifth Avenue? Say it isn't so! According to the New York Post, recessionistas will now have to do their bargain shopping elsewhere.

During a time when other luxury retailers are offering ridiculous discounts and major shopping incentives, Saks CEO Steve Sadove is trying to talk designers into a full-price state of mind, reports the paper.

After last year's dismal holiday season, where prices were slashed up to 80 percent, Saks is now hoping its customers will start to seek them out for quality over quantity.

In an effort to spread their anti-sale gospel, the top execs at Saks are putting pressure on designers to reconsider discounting their merchandise. Some brands are already beginning an exodus from Bloomingdale's because of disputes over clearance events, according to the source.

As reported by the NY Post, Sadove told analysts this month: "If you want to get it in your size, you're going to have to buy it."

Bummer for those of us who are used to buying it -- just not at full price! Looks like we'll have to head to Bloomingdale's or Neiman Marcus, where the markdown madness continues.

For another great source for discounted designer duds, click here.

Tags: department stores, DepartmentStores, recession, saks fifth avenue, SaksFifthAvenue, sales, shopping

Reader Comments (Page 1 of 2)

strayfawn 9-01-2009 @ 6:44AM

CEO Steve Sadove is out of touch with reality! Even in a great economy most of the fun of shopping is finding a good deal. Then, of course you need to accessorize it. Saks didn't have good sales anyway, so he's just piling more dirt on top of their grave.

Kimberly 9-01-2009 @ 8:09AM

We will see just how that goes. Greed is the down fall for many of these companies. He goes to bed full each night and have clothes and shoes to wear. Even some of the rich are not spending as much, they are looking at their own bottom line. In the end I would choose food over clothes and shoes any day. There are many other quality places to shop than Saks in the first place, why pay more for the very same designer clothes you can get at other stores? Way to go, CEO!

Lisa 9-01-2009 @ 7:44AM

If you've ever paid full price for designer clothing than you would know Strayfawn that Saks had great sales. I usually shop at boutiques where nothing is on sale. Nothing that people want anyway. I was very happy with their prices.

Tom 9-01-2009 @ 8:21AM

This action will be the final nail in Saks coffin. They are way over priced and the sales people are so snooty. I never enjoyed walking into Saks because the employees stare at you like you don't belong in the store if your not dressed to the T's. I stopped shopping at Saks five years ago because they have no customer service at all. Give me Nordstroms anyday...they have great quality in merchandise and in their employees.

maryamoses 9-01-2009 @ 9:09AM

I never pay full price for anything, ever. I learned a long time ago that if it's not on sale, it will go on sale, or else I don't need it!

jim 9-01-2009 @ 8:42AM

Hopefully stevie the moron will not be in office long, what an idiot!! LOL!! Must be an OBAMABOT, drinking the kool ade that things are better now, when the FACT is they will NEVER get better ONLY WORSE as long as this SOCIALIST barry is in office!!

Amy 9-01-2009 @ 11:30AM

Why is it suddenly a political thing to you? This isn't a story for your political soapbox....move on.

Maria 9-01-2009 @ 8:44AM

Wow, Saks wants to again make their demographic so small that it is now completely out of touch with their consumers. I enjoy high end merchandise, but most people - and I say most because I have seen some who are still mortgaging their tomorrow for designer heiney today - are rethinking the excess that plagued the past 7 years. Good luck with that thinking Saks...thank God you are not in my portfolio.

Etohdoc 9-01-2009 @ 9:41AM

Just don't buy anything from SAKS and you will see the sales return!!!!

Bill 9-01-2009 @ 9:48AM

Well sax will lose out on this one, and place like Ross, Marshall's, T.J. Max and other outlets will be the winners, what else do you think they will do will all the left overs that they can't sell at those ridiculous prices.

rmrlouisville 9-08-2009 @ 10:56AM

Good bye SAKS. Guarantee they will close the majority of their stores over this decision. I understand what he is trying to do, but he will loose the very customer that has kept the majority of their stores alive during this depression. They will have sales again soon but they will be of the variety of going out of buisness sales liq.

angie b 9-01-2009 @ 10:06AM

So long, Sak, nice knowing you!! The only way I could afford to shop there was during their sales. The CEO is obviously oblivious or doesn't care to consider the budgets of real people. I'd rather buy 2-3 pairs of shoes for $150/ea than have one pair for $3-400 to wear all season. But I guess there are enough celebrities/wealthy people to keep it afloat. Good luck- you're gonna need it.

Joyxw 9-01-2009 @ 10:09AM

A shout-out to TOM......your comments hit the nail right on the head! Saks' CEO job is balancing on a thin thread if he thinks that they shouldn't run any more sales. Nordstrom has the BEST customer service; their employees are well-trained, not overbearing or judgmental and have a great follow-up routine to keep their customers apprised of upcoming events. And yes, Nordstrom DOES have sales.... and they are great! They are one of the ONLY retail companies that are actually in the black. Buy Nordstrom stock!

Angiebaby 9-01-2009 @ 10:22AM

People want a good deal. There a few wealthy people who don't look at price tags, but for the most part, even wealthy people want a good deal. Sales have been the hallmark of successful retail stores since their inception, and now that we are all watching our pennies, a store which does not offer sales is essentially taking itself out of the running successfully.

Personally, the only way I can afford to shop at some place like Saks is when they do put items on clearance. But if they would prefer a $400 pair of shoes sit on the floor indefinitely rather than move it a few seasons out for $96 bucks, I'll just have to go elsewhere. Sales to peon shoppers like me don't count, and we are not the element stores like Saks want to attract.

Guess I'll just have to give up on those patent Prada riding boots since they won't be running a "Take an extra 40% Off" on sales prices. Sigh.

stan 9-01-2009 @ 10:23AM

Obviously the CEO at Sak's is out of touch with reality. Paying full price for vastly overpriced goods is nuts. You can buy many of the same brand names at TJ's. Paying full price at Sak's is a fools game. Stores like Sak's, Neimans, Bloomingdale and others have always offered sales since there merchandise is marked way up. Designer merchandise is only a hype. Fine for the truly rich. The same truly rich don't work for their money in many cases. I have a very wealthy friend of sorts that will not shop at Costco, Sam's and would never step into TJ's. that person has said to me these stores smell like poor. That same person has never worked a a day in their lives.

cynthia GeneDoll56@aol.com 9-01-2009 @ 10:29AM

I'm still LOL. Stevie. Just how dumb do you think we are? If you don't put it on sale someone else will. We don't have Nordstroms' here, but Neiman Marcus has some great sales and wonderful employees.. What are these people thinking? That must be some bonus check he's counting on (but I highly doubt he'll get)

JR 9-01-2009 @ 11:17AM

This guy is a genius, he has figured out how to put an institution like Sacks out of business. I think he was with Bear Stern before this

Amy 9-01-2009 @ 11:34AM

Bye Bye Saks....Hello Wal-Mart

bluqe 9-01-2009 @ 12:00PM

We all have choices, and I just do not see how not having sales will improve the bottom line of Sak's.
Soooo, I wish them good luck, they will soon find out America will do just fine without Sak's being there.

Barbara Greene 9-01-2009 @ 12:08PM

Saks has sales?
Invoking the name Neiman Marcus always has Saks quaking in their peep-toe booties.

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