Saks closing men’s store at New York’s Brookfield Place

Out with the old, in with the new.

Saks Fifth Avenue has closed its 16,000-sq.-ft. men’s store at Brookfield Place in lower Manhattan. But Saks isn’t leaving the mall entirely. The retailer plans to retain the men’s space for a new concept it is developing, reported Women’s Wear Daily. 

“HBC [Hudson’s Bay Co. Inc., parent company of Saks] is planning to retain the space and is in the process of developing plans for its future use, which we expect to announce in the coming months,” HBC said in the report. 

The shuttering of the men’s store comes about a year after Saks closed its 86,000-sq.-ft. three-level women’s store at the same mall, which is also home to the U.S. headquarters of Saks’ parent Hudson’s Bay Co.