Home / Knowledge / News / Apparel/Garments / Saks Fifth Avenue to close Southampton store in New York
Saks Fifth Avenue to close Southampton store in New York
06
Oct '10
Retailer Saks Incorporated, announced it plans to close its freestanding Saks Fifth Avenue store in Southampton, New York on October 9, 2010 and its Saks Fifth Avenue OFF 5TH store in The Legends at Sparks Marina in Reno/Sparks, Nevada on January 1, 2011.

"We routinely review the productivity, profitability, and potential for each of our stores and may determine it is appropriate to close a store from time to time," noted Steve Sadove, Chairman and Chief Executive Officer of Saks. "Store closing decisions are difficult ones to make, but the planned closing of these two locations is consistent with our strategy of deploying our resources in productive stores and closing underperforming stores, when feasible."

Sadove continued, "We are very grateful for our dedicated associates in both of these stores. As always, we are committed to providing needed assistance to our affected associates during this period."

The Company closed its Saks Fifth Avenue stores in Portland, Oregon; San Diego, California; Charleston, South Carolina; and Plano, Texas earlier this year and, as previously announced, will close its Saks Fifth Avenue store in Mission Viejo, California later this month.

Approximately 35 associates are employed in the Southampton Saks Fifth Avenue store, and approximately 20 associates are employed in the Reno OFF 5TH location. All affected associates either will be offered transfer opportunities or will receive appropriate employment separation packages.

The Southampton store is the Company's smallest Saks Fifth Avenue location at approximately 15,000 square feet. The Reno OFF 5TH store is approximately 28,000 square feet.

Saks Incorporated currently operates 49 Saks Fifth Avenue stores, 56 Saks Fifth Avenue OFF 5TH stores, and saks.com.

Saks Incorporated


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Top executives
Textile industry

The foremost issue is bridging the skill gap

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search