Continuing to prune its full-line store base, Saks Inc. will close the Saks Fifth Avenue store in Stamford Town Center in Stamford, Conn., in early 2014.
This story first appeared in the February 19, 2013 issue of WWD. Subscribe Today.
Last month, Saks Fifth Avenue said it would close the Dallas store in the Galleria Dallas in June, and last December, Saks Fifth Avenue units were closed in Renaissance Place in Highland Park, Ill., and in the Arboretum Market in Austin, Texas.
Over the past decade, Saks Fifth Avenue has closed 19 stores. Saks Inc. currently operates 43 Saks Fifth Avenue stores, 65 Off 5th outlets and saks.com.
“Store closing decisions are never easy,” said Steve Sadove, chairman and chief executive officer of Saks. “We routinely evaluate the productivity, profitability and potential of each of our store locations, and may determine that closing a store is the right course of action from time to time. This planned closing is consistent with our strategy of utilizing our resources in our most productive Saks Fifth Avenue stores.”
About 80 associates work in the Stamford store. They will either be transferred to other Saks locations or receive severance packages.