Saks Incorporated announced it has consummated the transaction selling nine department stores and related assets to May Department Stores for around $308m. Saks sold the real and personal property, along with certain related merchandise inventory and customer accounts receivable, of five Proffitt's stores in Nashville, Tennessee; one McRae's store in Baton Rouge, Louisiana; and three Parisian stores located in Baton Rouge, Louisiana, Lafayette, Louisiana, and Orlando, Florida.