“The planned closing of our Dallas store is consistent with our strategy of employing our resources in our most productive locations,” noted Steve Sadove, Chairman and Chief Executive Officer 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. Sadove continued, “These store closing decisions are always difficult. We are extremely appreciative of our associates in the Dallas store, several of whom have been with Saks for many years. We are committed to providing our associates with needed assistance during this period.”
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. Saks Fifth Avenue is proud to be named a J.D. Power and Associates 2012 Customer Service Champion and is only one of 50 U.S. companies so named.
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