Another bites the dust. It’s a sad day for savvy buyers and the end of an era, some would say. Saks Off Fifth, the discount department store and sister of Saks Fifth Avenue, is closing nine more stores in the U.S., several of them in the tri-state area.<\/p>\n
To \u201cpay greater attention to our high-performing and promising store locations,\u201d the company decided to close stores in Austin, Texas, Chicago, Washington, DC, Franklin Mall in Philadelphia, Pittsburgh North (McKnight Road), Plymouth Meeting, Pennsylvania, East Hanover, New Jersey, Niagara Falls, New York and West Hartford, Connecticut.<\/p>\n
While these stores won’t close until the new year, Saks Off 5th’s main NYC store on the Upper East Side (125 E 57th Street) will officially close its doors on December 31st. The company is confident that this will better position Saks Off 5th\u2019s business for long-term success and look forward to continuing to deliver for their customers.<\/p>\n
Most would assume that this news could only mean one thing: bankruptcy, but surprisingly that is not the case. Last month, rumors swirled that parent company Saks Global was potentially facing Chapter 11 bankruptcy, but a spokesperson for the brand quickly shut that down. \u201cIt is important to note that restructuring is not being considered,\u201d they said. \u201cIn addition, we are making great progress in reducing outstanding payments, investing in our transformation and improving performance.\u201d<\/p>\n
As retail faces a difficult period due to declining traffic and lackluster sales, Saks Off Fifth joins a number of other retailers that have also recently closed their doors. Last August, luxury retailer Nordstrom closed its Saint Louis Galleria store in St. Louis, Missouri, as well as a location in Santa Monica, California. In January of this year, Macy’s closed 66 stores so that the company could invest in 350 "forward-looking" Macy’s locations across the country by 2026.<\/p>\n","protected":false},"excerpt":{"rendered":"
Saks Off Fifth Closures Another bites the dust. It’s a sad day for savvy buyers and the end of an era, some would say. Saks Off Fifth, the discount department store and sister of Saks Fifth Avenue, is closing nine more stores in the U.S., several of them in the tri-state area. Reasons for Closure<\/p>\n","protected":false},"author":1,"featured_media":26999,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[38],"tags":[18271,1345,3893,4011,12372,18269,18273,18265,8543,9298,9365,2856,18268,18272,9296,18264,5308,7408,18267,18079,18266,4207,18270],"class_list":{"0":"post-26998","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-lifestyle","8":"tag-57th-street-manhattan","9":"tag-austin-texas","10":"tag-chapter-11-title-11-united-states-code","11":"tag-chicago","12":"tag-discount-store","13":"tag-east-hanover-township-new-jersey","14":"tag-macys","15":"tag-new-york-metropolitan-area","16":"tag-niagara-falls-new-york","17":"tag-nordstrom","18":"tag-philadelphia","19":"tag-pittsburgh","20":"tag-plymouth-meeting-pennsylvania","21":"tag-saint-louis-galleria","22":"tag-saks-fifth-avenue","23":"tag-saks-off-5th","24":"tag-santa-monica-california","25":"tag-st-louis","26":"tag-u-s-route-19-truck-pittsburgh","27":"tag-upper-east-side","28":"tag-washington-crown-center","29":"tag-washington-d-c","30":"tag-west-hartford-connecticut"},"_links":{"self":[{"href":"https:\/\/nanamedia.org\/en\/wp-json\/wp\/v2\/posts\/26998","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nanamedia.org\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nanamedia.org\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nanamedia.org\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nanamedia.org\/en\/wp-json\/wp\/v2\/comments?post=26998"}],"version-history":[{"count":1,"href":"https:\/\/nanamedia.org\/en\/wp-json\/wp\/v2\/posts\/26998\/revisions"}],"predecessor-version":[{"id":27000,"href":"https:\/\/nanamedia.org\/en\/wp-json\/wp\/v2\/posts\/26998\/revisions\/27000"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nanamedia.org\/en\/wp-json\/wp\/v2\/media\/26999"}],"wp:attachment":[{"href":"https:\/\/nanamedia.org\/en\/wp-json\/wp\/v2\/media?parent=26998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nanamedia.org\/en\/wp-json\/wp\/v2\/categories?post=26998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nanamedia.org\/en\/wp-json\/wp\/v2\/tags?post=26998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}