April 29th, 2005, 11:01 AM
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Saks to Sell Proffitt's, McRae's to Belk (AP)
AP - In its first step in the breakup of Saks Inc., the Birmingham, Ala.-based department store operator on Friday said it is selling its Proffitt's and McRae's department stores to privately held retailer Belk Inc. for $622 million in cash as it mulls options for its stores across the northern United States. View the Entire Article
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