Saks Global To Close 15 Stores In Portfolio Optimization Drive

(RTTNews) - Saks Global Enterprises LLC, the multi-brand luxury retailer, is moving forward with its store portfolio optimization strategy by announcing the closure of an additional 12 Saks Fifth Avenue and 3 Neiman Marcus locations. These closures build on the initial round announced last month and are intended to sharpen the company's focus on its distinctive strengths while investing in opportunities to better serve luxury customers, drive stronger full-price sales, and enhance brand equity for its partners, the company said.

In select markets, Saks Global will streamline operations to include either a Saks Fifth Avenue or Neiman Marcus store, depending on performance and customer preferences. However, both banners will continue to operate in leading luxury destinations that represent significant growth opportunities.

The company confirmed that there will be no changes to the Bergdorf Goodman operational footprint. Aside from the closing locations, Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman stores, along with their ecommerce platforms, will continue to operate as usual.