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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of Report (date of earliest event reported): November 19, 2010</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">12 East 49<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">th</font> Street, New York, New York 10017</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check the appropriate box if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item 3.02.&#160;&#160;&#160;&#160;&#160;&#160;&#160;Unregistered Sales of Equity Securities.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On November 18, 2010 and November 19, 2010, Saks Incorporated (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Company</font>&#8221;) made contributions totaling 1,755,000 shares (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Shares</font>&#8221;) of its common stock, par value $0.10 per share (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Common Stock</font>&#8221;), to the Saks Fifth Avenue Pension Plan Trust, a trust holding the assets of the defined benefit pension plan of the Company and its subsidiaries (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Trust</font>&#8221;), in consideration for a credit against the future funding obligations to the Trust of Saks &amp; Company, one of the Company's indirect wholly-owned subsidiaries and the sponsor of the plan.&#160;&#160;The Shares were valued for purposes of the contribution at $19,961,075 in the aggregate.&#160;&#160;The Shares were newly issued shares and were contributed to the Trust in private placements pursuant to Section 4(2) of the Securities Act of 1933, as amended (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Securities Act</font>&#8221;).</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On November 18, 2010, November 19, 2010 and November 22, 2010, the Company also filed with the Securities and Exchange Commission (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">SEC</font>&#8221;) prospectus supplements to the Company&#8217;s existing effective shelf registration statement covering the resale of the Shares by the Trust.&#160;&#160;The Trust's investment policy requires the divestiture, in an orderly manner, of any Common Stock that is received as a contribution to the plan as soon as practicable after it is received.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item 8.01.&#160;&#160;&#160;&#160;&#160;&#160;&#160;Other Events.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In connection with the contribution of the Shares to the Trust as described above in Item 3.02, the exhibits listed in Item 9.01 are filed herewith and incorporated by reference into the Company&#8217;s effective shelf registration statement on Form S-3 (File No. 333-160914) and related prospectus dated August 13, 2009, as supplemented by the prospectus supplement dated November 22, 2010 covering the resale of certain of the Shares by the Trust.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></div>

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saksinc8knovember2010.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): November 19, 2010
SAKS INCORPORATED
Tennessee
1-13113
62-0331040
(State or Other Jurisdiction
(Commission File Number)
(I.R.S. Employer
of Incorporation)
Identification No.)
12 East 49
th
Street, New York, New York 10017
(212) 940-5305
Check the appropriate box if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 3.02.       Unregistered Sales of Equity Securities.
On November 18, 2010 and November 19, 2010, Saks Incorporated (the "
Company
") made contributions totaling 1,755,000 shares (the "
Shares
") of its common stock, par value $0.10 per share (the "
Common Stock
"), to the Saks Fifth Avenue Pension Plan Trust, a trust holding the assets of the defined benefit pension plan of the Company and its subsidiaries (the "
Trust
"), in consideration for a credit against the future funding obligations to the Trust of Saks & Company, one of the Company's indirect wholly-owned subsidiaries and the sponsor of the plan.  The Shares were valued for purposes of the contribution at $19,961,075 in the aggregate.  The Shares were newly issued shares and were contributed to the Trust in private placements pursuant to Section 4(2) of the Securities Act of 1933, as amended (the "
Securities Act
").
On November 18, 2010, November 19, 2010 and November 22, 2010, the Company also filed with the Securities and Exchange Commission (the "
SEC
") prospectus supplements to the Company's existing effective shelf registration statement covering the resale of the Shares by the Trust.  The Trust's investment policy requires the divestiture, in an orderly manner, of any Common Stock that is received as a contribution to the plan as soon as practicable after it is received.
Item 8.01.       Other Events.
In connection with the contribution of the Shares to the Trust as described above in Item 3.02, the exhibits listed in Item 9.01 are filed herewith and incorporated by reference into the Company's effective shelf registration statement on Form S-3 (File No. 333-160914) and related prospectus dated August 13, 2009, as supplemented by the prospectus supplement dated November 22, 2010 covering the resale of certain of the Shares by the Trust.
Item 9.01.       Financial Statements and Exhibits.
(d)
Exhibits.
See Exhibit Index immediately following signature page.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated:  November 22, 2010
SAKS INCORPORATED
By:
/s/ Ann Robertson
Name:
Ann Robertson
Title:
Vice President and Corporate Secretary
EXHIBIT INDEX
Exhibit No.
Description
5.1
Opinion of Baker, Donelson, Bearman, Caldwell & Berkowitz, PC
23.1
Consent of Baker, Donelson, Bearman, Caldwell & Berkowitz, PC (counsel) (included in Exhibit 5.1)