Luxury retail group Saks Global has confirmed plans to close select locations in its Saks Off 5th portfolio. The decision comes as part of a wider review of the company, which is reshaping both its retail network and management structure to improve financial performance.
In a statement to FashionUnited, a spokesperson for Saks Global said the company has identified opportunities to optimize the Saks Off 5th store network “through initiatives to improve performance and enhance the customer experience.” The group wants to focus more attention on its high-performance and high-potential locations and make “refinements” across the entire branch portfolio.
The statement continued: “As part of our ongoing and comprehensive strategy, we have critically reviewed our store inventory and will close select locations in early 2026. We are confident this will better position Saks Off 5th’s business for the long term and look forward to continuing to serve our customers.”
Although the company did not disclose the number of affected stores, a report from WWD suggested that nine of the off-price retailer’s current 79 locations could be affected by closures. Locations to be closed include locations in Chicago (IL), Austin (TX), East Hanover (NJ), Philadelphia Mills (PA), Niagara Falls (NY), Pittsburgh North (PA), Plymouth Meeting (PA), Washington (DC), and West Hartford (CT).
The news comes shortly after a leadership change at Saks Global that was initiated in October. Among the changes, Kim Miller, president of Saks Off 5th, was named to the newly created position of chief customer officer; and Genny Siller, VP of merchandise planning at Saks Off 5th, moved into the role of VP and GM of the retailer.
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