Saks (SKS -0.4%) CEO Steve Sadove wants to change the impression with consumers that the...


Saks (SKS -0.4%) CEO Steve Sadove wants to change the impression with consumers that the retailer is a promotional department store by cutting the number of items on sale. The retooling of philosophy comes against a backdrop that close to 80% of Saks sales are generated by just 20% of its customers. It's also a somewhat brave move to take on, with this year's change in direction at J.C. Penney away from discounting causing a widespread exodus of shoppers from JCP stores.

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