SAKS PLANS NEW VIRGINIA STORE

BIRMINGHAM, Ala. — Saks Fifth Avenue plans to open an 80,000-square-foot store at Stony Point Fashion Park, a 680,000-square-foot open-air fashion center being developed by Taubman Centers Inc. in Richmond, Va. The store and center are scheduled to open in the fall of 2003. Saks Fifth Avenue has one store currently operating in Virginia, a 120,000-square-foot-unit in Tyson’s Corner in McLean, Va.