Saks plans to close Portland store

24 Mar '10

1 min read

Retailer Saks Incorporated announced it plans to close its Saks Fifth Avenue stores located in the Pioneer Place Mall in Portland, Oregon. Saks operates a main store plus a men's store in the mall. The men's store is expected to close on April 25, and the main store is expected to close by July 31, 2010.

Steve Sadove, Chairman and Chief Executive Officer of Saks, noted, “Store closing decisions are never easy but are necessary from time to time. The planned closing of the Portland store is consistent with our strategy of focusing our resources on our most productive stores.”

Approximately 100 associates are employed in the two locations. All affected associates either will be offered transfer opportunities or will receive appropriate severance packages. Sadove added, “We are extremely appreciative of the dedicated Portland team, several of whom have been with Saks for many years. We will make every effort to provide needed assistance to our associates during this period.”

Saks Incorporated currently operates 53 Saks Fifth Avenue stores, 55 Saks Off 5th stores, and saks.com.

Saks Incorporated

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