New York City — Saks Incorporated plans to close its Saks Fifth Avenue store located in Galleria Dallas in Dallas on June 15, 2013.
“The planned closing of our Dallas store is consistent with our strategy of employing our resources in our most productive locations,” says Steve Sadove, chairman and CEO of Saks. “We regularly assess the productivity, profitability and potential of each of our store locations and may determine that a closing is appropriate from time to time.”
Approximately 120 associates are employed in the Dallas store. All affected associates either will be offered transfer opportunities or will receive appropriate employment separation packages.
The company has operated a Saks Fifth Avenue store in Dallas since 1982. The company will continue to operate its Saks Fifth Avenue stores in Houston and San Antonio and several Saks Fifth Avenue OFF 5TH stores throughout the state, including three in the metro Dallas-Fort Worth area (Grapevine Mills, Shops at Park Lane and Grand Prairie Premium Outlets).
Saks Incorporated currently operates 43 Saks Fifth Avenue stores, 65 Saks Fifth Avenue OFF 5TH stores, and saks.com.
SOURCE: Saks Incorporated