Saks to close San Diego store

New York City Saks plans to close its San Diego store by mid-July as it focuses increasingly on its most lucrative locations. The company said in March that it would shutter its store in Portland, Ore.

Saks currently operates 53 stores under the Saks Fifth Avenue banner, as well as 55 Saks Off 5th stores and its online business, Saks.com.

The store in Palm Desert, northeast of San Diego, is still in operation, one of four other California locations.

Major retailers will release sales figures on Thursday and Saks is expected to report a 4.3% improvement in same-store sales. That compares with a 32% drop a year ago.