"After careful consideration, we believe the interests of both our customers and our company are best served by closing our Northridge store and concentrating our resources on our other surrounding area locations," says Michael R. MacDonald, president of the Northern Department Stores Group of Saks Inc. and CEO of Carson Pirie Scott & Co. "This action is consistent with our focus on improving our returns on invested capital."

Other Boston Stores in the metropolitan area include a 211,000-sf store in the Mayfair Mall, a 167,600-sf store in the Bayshore Mall, a 221,000-sf store in the Southridge Mall, a 219,000-sf store in the Brookfield Mall and a 100,000-sf store in the Grand Avenue Mall in downtown Milwaukee. "Milwaukee remains an important market for our Company," adds MacDonald. "We will continue to offer our Boston Store customers the outstanding merchandise and service they have come to expect from us in our other area locations."

Milwaukee is also the home of Carson Pirie Scott & Co.'s headquarters, which includes the merchandising, advertising/marketing, and support functions for Carson Pirie Scott, Bergner's, Boston Store, and Herberger's. In January 2003, the Company's Des Moines, IA based Younkers' home office operations will be consolidated into the Milwaukee offices, bringing the total employment there to approximately 725 associates. At the end of March 2003, the Company will employ approximately 2,500 associates in metropolitan Milwaukee.