The 15 closures of Saks Fifth Avenue and Neiman Marcus announced Friday are in addition to the nine stores the company said last month that it would close.
WASHINGTON — The parent company of Saks Fifth Avenue and Neiman Marcus is closing more stores as it focuses on its most profitable businesses and trims debt during its Chapter 11 bankruptcy restructuring.
Saks Global Inc. said Friday it will close 12 more Saks Fifth Avenue stores and three more Neiman Marcus stores. The stores will remain open until the end of May, a company spokesperson said.
The closures come on top of the eight Saks Fifth Avenue stores and one Neiman Marcus store it said it would close last month. The stores targeted for the first round of closing are expected to remain open until the end of April.
The company also said in January that it will close all but 12 of its Saks OFF 5th locations nationwide — a total of 57 locations.
With plans to close a total of 24 department stores by spring, that would leave the parent company with 13 Saks Fifth Avenue stores — including its flagship store on Manhattan’s Fifth Avenue — as well as 32 Neiman Marcus locations and Bergdorf Goodman in New York City.
Saks also said 500 brands have resumed shipping, releasing close to $1.3 billion in retail receipts. That accounts for more than 80% of the inventory the company expects to receive from February through April, with momentum expected to continue, the company said.
List of stores closing this spring:
- Saks Fifth Avenue, The Summit (Birmingham, AL)
- Saks Fifth Avenue, Biltmore Fashion Park (Phoenix, AZ)
California
- Saks Fifth Avenue, South Coast Plaza (Costa Mesa, CA)
- Saks Fifth Avenue, The Gardens on El Paseo (Palm Desert, CA)
- Neiman Marcus, Topanga (Canyon Park, CA)
- Saks Fifth Avenue, The Mall at University Town Center (Sarasota, FL)
- Neiman Marcus, Ala Moana (Honolulu, HI)
- Saks Fifth Avenue, Michigan Avenue (Chicago, IL)
- Saks Fifth Avenue, Shops at Canal Place (New Orleans, LA)
- Saks Fifth Avenue, Wisconsin Avenue (Chevy Chase, MD)
Massachusetts
- Neiman Marcus, Copley Place (Boston, MA)
- Saks Fifth Avenue, Plaza Frontenac (St. Louis, MO)
- Saks Fifth Avenue, Las Vegas Boulevard (Las Vegas, NV)
New Jersey
- Saks Fifth Avenue, American Dream (East Rutherford, NJ)
- Saks Fifth Avenue, Long Island (Huntington Station, NY)
- Neiman Marcus, Westchester (White Plains, NY)
North Carolina
- Saks Fifth Avenue, Triangle Town Center (Raleigh, NC)
- Saks Fifth Avenue, Beachwood Place (Beachwood, OH)
- Saks Fifth Avenue, Polaris Fashion Place (Columbus, OH)
- Saks Fifth Avenue, Utica Square (Tulsa, OK)
Pennsylvania
- Saks Fifth Avenue, Bala Plaza (Philadelphia, PA)
- Saks Fifth Avenue, North Star Mall (San Antonio, TX)
- Saks Fifth Avenue, Tysons Galleria (Tysons, VA)
- Saks Fifth Avenue, Stony Point Fashion Park (Richmond, VA)
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