SAKS REPORTS INCOME IN FREE FALL

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Saks Inc. reported a dismal outcome for the quarter ending Feb. 3, with net income free-falling 54.1 percent to $55.3 million, from $120.5 million one year ago. The Birmingham, Ala.-based company, which operates Saks Fifth Avenue, canceled its conference call with financial analysts March 14, saying that final results for the quarter were "consistent with preliminary results reported" on Feb. 8.

Copyright March 2001, Crain Communications Inc.

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