Most Saks Off 5th stores to close; here is list of locations that will remain open…
Saks Global is winding down most of its off-price operations as it looks to sharpen its focus on full-price selling and luxury retail across its portfolio.
The department store company, which declared bankruptcy earlier this month, said that following a thorough review of its off-price business, it has decided to close the majority (57) of its Saks Off 5th locations and all five Last Call stores. (Last Call is the clearance division of Neiman Marcus.)
Saks Global is keeping 12 Saks Off 5th locations open, to serve primarily as a selling channel for residual inventory from Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman. (A list of the Off 5th stores that will remain open is at end of article.) As such, the company will move away from purchasing merchandise directly for Saks Off 5th.
Closing sales at the Saks Off 5th stores that are going dark and all remaining Last Call stores are expected to start on Saturday, Jan. 31, with the closings subject to certain approvals in the Chapter 11 process. The downsizing comes as Nordstrom continues to expand its off-price banner, Nordstrom Rack.
Saks Off 5th Online
In addition, saksoff5th.com, which is a separate legal entity from Saks Global, has decided to wind-down its operations, with an online closing sale beginning Friday, Jan. 30.
“As we advance on Saks Global's transformation, we are taking decisive steps to realign our business to better serve our luxury customers and drive full-price selling across our core luxury businesses," said Geoffroy van Raemdonck, who was recently named CEO of Saks Global. "With these actions, we will be well positioned to seize the greatest opportunities for long-term growth and value creation. We sincerely thank our Saks Off 5th and Last Call colleagues for the important role they have played in serving our loyal customers."
Here is a list of the Saks Off 5th locations remaining open.
•Gallery @ Westbury Plaza (Garden City, N.Y.)
•Sawgrass Mills (Sunrise, Fla.)
•Woodbury Common Premium Outlets (Central Valley, N.Y.)
•Bergen Town Center (Paramus, N.J.)
•Town Center Aventura (Aventura, Fla.)
•Buckhead Station (Atlanta)
•Miromar Outlets (Estero, Fla.)
• Somerset Shoppes (Boca Raton, Fla.)
•The Outlets at Orange (Orange, Calif.)
• Dolphin Mall (Miami, Fla.)
• Palm Beach Outlets (West Palm Beach, Fla.)
• Grapevine Mills (Grapevine, Texas)
A full list of closing locations and updates to customer programs can be found here.
