Saks plans global expansionSaks Fifth Avenue plans to have...

BUSINESS DIGEST

January 20, 1993

Saks plans global expansion

Saks Fifth Avenue plans to have 120 stores open worldwide within five years, Vice Chairman Philip Miller said. The company, whose 49 stores generated $1.3 billion in revenue in the latest fiscal year, plans to open department stores as well as specialty stores.

Mr. Miller said the company plans to expand in Europe, the Far East and Mexico. He also said the company plans an initial public offering within the next three to five years.

Martin Marietta in Greek deal

Martin Marietta Corp. said the Greek government will purchase 40 LANTIRN night vision systems from the company as part of a U.S. sale of F-16C/D fighter aircraft to the North Atlantic Treaty Organization member. The order was valued at more than $100 million to Martin Marietta.

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