Should Sak’s Sell its Store?

Retail Datapoints of the Day – Market Movers – Felix Salmon

Prime Fifth Avenue retail rents, per square foot, in 2000: $675

Prime Fifth Avenue retail rents, per square foot, in 2007: $1,500

Prime Fifth Avenue retail rents, per square foot, in 2008: $2,500

Square footage of the Saks Fifth Avenue flagship: 350,000

How much the Saks flagship would rent out for, annually, at $2,000 per square foot: $700 million

Year-on-year change in the Saks Inc share price: -44%

Market capitalization of Saks Inc: $1.4 billion

Once upon a time there was a store in New York called Alexander’s until someone realized that the real estate was more valuable than the store.