New York City — Saks Incorporated plans to close its Saks Fifth Avenue stores located in Highland Park, Ill., and Austin, Texas. Both stores are expected to close on December 31, 2012.
New York City — Saks Incorporated plans to close its Saks Fifth Avenue stores located in Renaissance Place in Highland Park, Ill., and in the Aboretum Market in Austin, Texas. Both stores are expected to close on December 31, 2012.
“We routinely assess the productivity, profitability and potential of each of our stores and may conclude closings are necessary from time to time,” says Steve Sadove, chairman and CEO of Saks. “These planned closings are consistent with our strategy of employing our resources in our most productive locations.”
All affected associates either will be offered transfer opportunities or will receive appropriate employment separation packages. “Store closing decisions are never easy,” says Sadove. “We are very appreciative of our many loyal associates in both the Highland Park and Austin Saks Fifth Avenue stores, and we are committed to providing them with needed assistance during this period.”
The Highland Park store opened in 2000 and is approximately 49,000 square feet. Saks will continue to serve metropolitan Chicago customers with its flagship store located on Michigan Avenue. The Austin store opened in 1997 and is approximately 52,000 square feet. The company also operates Saks Fifth Avenue stores in Dallas, Houston and San Antonio.
Saks Incorporated currently operates 45 Saks Fifth Avenue stores, 64 Saks Fifth Avenue OFF 5TH stores, and saks.com.