By Alabama Public Radio
Birmingham, AL – Alabama-based Saks is selling its 38-store Parisian chain to Belk for 285 million dollars in cash. Parisian has department stores in nine southeastern and Midwestern states. It reported revenues of about 723 million dollars last year. Belk also will get the Parisian headquarters building in Birmingham and a 180-thousand-square-foot warehouse. Belk is the nation's largest privately-owned department store chain with 277 stores in 16 southeastern states.