Heads roll following Saks investigation
May 10, 2005,
BIRMINGHAM, Ala. — Saks Incorporated has asked a number of its senior executives to resign after the company completed its internal investigation into improper vendor markdown allowances which took place from 1999-2003.
The investigation found approximately $20 million was improperly collected from vendors, whom SAFE has said it will "reimburse or otherwise compensate."
Related Content By Author
The Countdown to the ICON Honors
Home & Textiles Today eDaily