Saks S-3 Shelf registration

Exhibit 12

Saks Incorporated and Subsidiaries

Statement of the Computation of the Ratio of Earnings to Fixed Charges

(dollars in thousands)

Ratio of Earnings to Fixed Charges	13 Weeks Ended May 1, 2004		13 Weeks Ended May 3, 2003		52 Weeks Ended January 31, 2004		52 Weeks Ended February 1, 2003		52 Weeks Ended February 2, 2002		52 Weeks Ended February 3, 2001		52 Weeks Ended January 29, 2000
EARNINGS:
Pre-tax income from continuing operations and before cumulative effect of accounting change	34,685		22,736		109,879		109,985		523		115,599		302,198
Fixed charges	44,035		44,788		179,314		194,828		202,773		228,106		216,410
Preferred stock dividends	—		—		—		—		—		—		—
Capitalized interest	(718	)	(382	)	(2,384	)	(2,897	)	(4,757	)	(12,507	)	(14,832	)
Total Earnings	78,002		67,142		286,809		301,916		198,539		331,198		503,776
FIXED CHARGES:
Interest expense	25,966		28,864		109,713		124,052		131,039		149,995		138,968
Capitalized interest	718		382		2,384		2,897		4,757		12,507		14,832
Portion of rental expense (one-third)	17,351		15,542		67,217		67,879		66,977		65,604		62,610
Preferred stock dividends	—		—		—		—		—		—		—
Total Fixed Charges	44,035		44,788		179,314		194,828		202,773		228,106		216,410
Ratio of Earnings to Fixed Charges	1.8		1.5		1.6		1.5		1.0		1.5		2.3