New York City — Saks Global Enterprises LLC, a leading luxury retail company, is underway on an initial phase of optimization across its Saks Fifth Avenue and Neiman Marcus store footprint, which will include nine store closings. There are no changes to the Bergdorf Goodman operational footprint.
“We are initiating a series of actions to reinforce Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman as the ultimate destinations for luxury with a seamless multi-channel shopping experience,” says Geoffroy van Raemdonck, chief executive officer of Saks Global. “By optimizing our operational footprint, we will be better positioned to deliver exceptional products, elevated experiences and highly personalized service across all channels, while simultaneously positioning our company to make investments that enable long term growth and value creation. Importantly, opportunities within the luxury market remain strong, and Saks Global is primed to play a distinct, enduring role within the industry for many years to come.”
Saks Global is refining the Saks Fifth Avenue and Neiman Marcus store footprint to focus on profitable locations with the highest growth potential. Go-forward locations are being determined as part of the company’s ongoing footprint optimization plan, based on a number of factors including performance and lease economics. A list of the eight Saks Fifth Avenue and one Neiman Marcus locations to be closed in the first phase of this ongoing review include:
Saks Fifth Avenue Locations Closing:
1. The Summit (Birmingham, Ala.)
2. Polaris Fashion Place (Columbus, Ohio)
3. American Dream (East Rutherford, N.J.)
4. Shops at Canal Place (New Orleans)
5. Bala Plaza (Philadelphia)
6. Biltmore Fashion Park (Phoenix)
7. Stony Point Fashion Park (Richmond, Va.)
8. Utica Square (Tulsa, Okla.)
Neiman Marcus Locations Closing:
1. Copley Place (Boston)
With the exception of the select locations commencing closing sales, the company’s stores and e-commerce experiences across Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman are operating as usual.
Additionally, Saks Global plans to close the majority of its standalone Fifth Avenue Club personal styling suites. This initiative was originally created to serve Saks Fifth Avenue customers in markets without a physical store presence. Since the 2024 acquisition of Neiman Marcus Group, the company is now able to serve customers in many of these markets through the Neiman Marcus store portfolio. The luxury retailer plans to keep three locations in markets that present a growth opportunity for the company.
Saks Global is the largest multi-brand luxury retailer in the world, comprising Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman, Saks OFF 5TH and Horchow. Its retail portfolio includes 70 full-line luxury locations, additional off-price locations and four e-commerce experiences. For more information, visit www.SaksGlobal.com.
SOURCE: Saks Global