BEACHWOOD, Ohio — The Saks Fifth Avenue store at Beachwood Place is among 15 luxury department stores slated to close as parent company Saks Global restructures its national footprint, according to a news release.
Saks Global Enterprises announced the closure of 12 Saks Fifth Avenue locations and three Neiman Marcus stores, building on store closures announced last month. The company said the moves will allow it to concentrate on top-performing stores in markets with higher concentrations of luxury shoppers.
“Our go-forward store portfolio will comprise the best performing and most desirable locations in markets with the highest concentration of luxury customers, enabling us to deepen loyalty and drive sustainable growth,” Geoffroy van Raemdonck, CEO of Saks Global, said in a statement.
Stores affected nationwide
The other Saks Fifth Avenue locations closing include stores in Chevy Chase, Maryland; Chicago; Costa Mesa, California; Las Vegas; Huntington Station, New York; Palm Desert, California; Raleigh, North Carolina; San Antonio; Sarasota, Florida; St. Louis; and Tysons, Virginia. The three Neiman Marcus closures are in Honolulu; Canoga Park, California; and White Plains, New York…