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Saks to close store in Charleston, S.C.


New York City Saks plans to shut its Saks Fifth Avenue store in Charleston, S.C., by July 17, the company said on Monday.

The 60 workers at the store will be given the chance to transfer to another store or will receive a severance package, according to chairman and CEO Steve Sadove.

This is the third closure recently announced by the company, as it previously said it would close Saks Fifth Avenue locations in Portland, Ore., and San Diego in July. The closures are part of the company's strategy to increasingly focus on its most lucrative locations.

Saks, which will report its first-quarter results on Tuesday, runs 53 Saks Fifth Avenue stores and 55 Saks Off 5th stores.

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