In a surprise move, Saks Global has decided to keep operating three luxury department stores that were part of the group of 24 locations previously marked for closure, WWD has learned.
Two Saks Fifth Avenue stores, in Sarasota, Fla., and Palm Desert, Calif., and the Neiman Marcus store in White Plains, N.Y., will remain open, Saks Global said Tuesday.
Saks Global previously said a total of 20 Saks Fifth Avenue locations and four Neiman Marcus locations would shut down this spring.
As the plan stands now, 15 Saks Fifth Avenue stores will stay in business, and Neiman Marcus will operate with 33 stores.
Saks Global is also closing 57 Saks Off 5th stores, the five Last Call clearance centers for Neiman Marcus and the Horchow catalogue.
“We are pleased to share that our Saks Fifth Avenue Sarasota, Saks Fifth Avenue Palm Desert and Neiman Marcus Westchester stores will remain open following recent productive conversations with our landlords and further evaluation,” a Saks Global spokeswoman said in a statement Tuesday. “Our approach to optimizing our store footprint remains centered on ensuring we focus our presence in markets with a high concentration of luxury shoppers where we can operate at an attractive level of profitability. We look forward to continuing to serve customers in these markets.”
Saks Fifth Avenue in Sarasota is situated in The Mall at University Town Center, and Saks Fifth Avenue in Palm Desert is at The Gardens on El Paseo. The Neiman Marcus in White Plains is situated in The Westchester mall. All three malls are owned by Simon Property Group.
Saks Global has left open the possibility of a few further closings as part of the normal course of business. Decisions to close or keep operating stores are heavily reliant on lease terms, performance history and the outlook of the business.
Saks Global filed for Chapter 11 on Jan. 13, clearing the way for it to get out of leases without penalties, while continuing to operate healthy stores and working under court supervision to restructure debts, renegotiate contracts and develop a viable business plan. The company intends to sharpen the image and presentation of the Neiman’s and Saks stores so they become more distinct.
Here is the latest list of Saks and Neiman’s store closings as well as the locations staying open:
Saks Fifth Avenue closings: Beachwood and Columbus, Ohio; Tulsa, Okla.; Chevy Chase, Md.; Michigan Avenue, Chicago; Costa Mesa, Calif.; Las Vegas; Huntington Station, N.Y.; Raleigh, N.C.; San Antonio, Texas; Tysons and Richmond, Va.; St. Louis; Birmingham, Ala.; East Rutherford, N.J.; New Orleans; Bala Plaza outside of Philadelphia, and Phoenix.
Saks stores staying open: Greenwich, Conn.; Atlanta; Bal Harbour, Boca Raton, Palm Beach Gardens, Naples and Sarasota, Fla.; the Brickell and Dadeland units in Miami; Beverly Hills and Palm Desert, Calif.; Boston; Houston; New York City, and Troy, Mich.
Neiman’s closings: Honolulu; Topanga, Calif., and Boston.
Neiman’s stores staying open: Atlanta; Bal Harbour, Boca Raton, Tampa Bay, Coral Gables and Orlando, Fla.; Austin, downtown Dallas, Northpark Dallas, Fort Worth, Houston and San Antonio, Texas; Northbrook, Oakbrook and Michigan Avenue in Illinois; Beverly Hills, Newport Beach, San Francisco, Palo Alto and San Diego, Calif.; Charlotte, N.C.; Paramus and Short Hills, N.J.; Garden City and White Plains, N.Y.; Scottsdale; St. Louis; Troy, Mich.; Tysons, Va.; Las Vegas; Denver, and King of Prussia, Pa. The Willow Bend store in Texas is scheduled to close in January 2027.
