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Saks began as Proffitt's, Inc. with just five Proffitt's stores in metropolitan Knoxville, Tennessee. Proffitt's, Inc. became a public company in June 1987. From 1994 to 1998, they added McRae's, Parisian, Younkers, Herberger's, and Carson Pirie Scott & Co. (which included Bergner's and Boston Store) as well as 32 additional stores from Lovemans, Hess, Parks-Belk, and Brody's, which were converted into existing store nameplates. In September of 1998, Proffitt's, Inc. and Saks Holdings, Inc. completed a merger transaction where Saks Fifth Avenue and Saks Fifth Avenue OFF 5TH outlet stores became a division of Proffitt's, Inc., and their corporate name of Proffitt's, Inc. was changed to Saks Incorporated. The stock began trading on the New York Stock Exchange under the symbol "SKS" on September 18 of that year.
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