Pros

Prestige within the retail industry and the opportunity to see some of the leading ideas in fashion in motion; while this is department dependent, some of the senior management is amazing to work for and there is a great opportunity to learn; the Saks university programs are very helpful in both personal and professional development; great corporate discount policies (double discount days and family and friend discount days); particularly in the case of buyers and planners, there lies great potential for internal promotion.

Cons

Obviously, luxury retail is not the best industry to be working in during a recession; there has been a recent history of layoffs in light of declining sales. In terms of department stores, Saks has entered into markets where the potential for future growth is absent. As for corporate environment, some of the senior management is reluctant to change, and it may seem as if suggestions fall upon deaf ears.

Advice to Senior Management

Perhaps give stronger consideration to exiting out of some of the less profitable markets, instead of laying off corporate employees.