Saks Inc. Halts Spin-Off Plan

Birmingham, AL--Cataloger/retailer Saks has halted its plan to spin off its upscale Saks Fifth Avenue division into a separate public company. As announced in July, Saks had planned to spin off the retail chain Saks Fifth Avenue, the Saks Direct catalog division, and the Saks Off 5th off-price retail chain. The company said weak market conditions convinced it to scrap the spin-off