Summary
Saks Off Fifth, a discount store chain, will close nine of its U.S. locations by January 2026. This decision aims to focus on the stores that perform well and have the potential to succeed. The flagship store in New York City will close by December 31, 2025.
Key Facts
- Saks Off Fifth plans to close nine U.S. stores starting in January 2026.
- The flagship store on Manhattan's Upper East Side is set to close by December 31, 2025.
- Other store locations closing include Austin, Texas; Chicago; Washington, D.C.; Philadelphia; Pennsylvania; New Jersey; Niagara Falls, New York; and Connecticut.
- Saks Off Fifth aims to concentrate on stores with high performance and potential.
- The company has around 100 stores across the U.S. and Canada.
- Saks Off Fifth is not filing for bankruptcy but is restructuring its store presence.
- Online shopping trends and reduced physical store visits are influencing these changes in the retail sector.
- Over 2,500 U.S. store closures are expected in 2025, with potential for more closures by 2029.
