In an unusual twist, the Saks Fifth Avenue at The Mall at University Town Center in Sarasota is no longer closing.
New York-based Saks Global, the parent company of Saks, confirmed the news in an email to the Business Observer on Tuesday afternoon. The email follows questions to the company from the Business Observer stemming from social media posts from former Saks employees saying the decision to shutter had been reversed. A Saks Global spokesperson says the store renegotiated its lease with the owner of the mall, Simon. (East Manatee County-based Benderson Development built the mall in 2014 in a partnership with Taubman; Indianapolis-based mall and entertainment center owner Simon acquired Taubman in a deal that closed in 2025.)
“We are pleased to share that our Saks Fifth Avenue Sarasota store will remain open following recent productive conversations with our landlords and further evaluation,” the Saks Global spokesperson writes in the note. “Our approach to optimizing our footprint remains centered on ensuring we focus our presence in markets with a high concentration of luxury shoppers where we can operate at an attractive level of profitability. We look forward to continuing to serve customers in the Sarasota community.”…