The glitz and glamour are fading for several high-end shopping hubs as Saks Global prepares to lock the doors for good.
In a massive shake-up announced this week, the retail powerhouse is closing eight Saks Fifth Avenue locations and a Neiman Marcus storefront in Boston.
This downsizing isn’t a surprise to those following the company’s bank statements; Saks took on a staggering $2.2 billion in debt to acquire Neiman Marcus back in 2024, a move that eventually led to a bankruptcy filing this past January. The company is now “refining the Saks Fifth Avenue and Neiman Marcus store footprint to focus on profitable locations with the highest growth potential,” effectively cutting loose any branch where the rent or the revenue no longer makes sense.
The cuts go deeper than just the storefronts. Most of the company’s elite “Fifth Avenue Club” personal styling suites, the private luxury hubs tucked inside five-star resorts, are also being dismantled. Out of nearly 20 locations, only three will survive.
These high-end outposts in vacation hotspots like Savannah, Charleston, and Santa Barbara have been closed to the public as of Saturday, Feb. 14. Even the digital footprint is being consolidated; the home decor brand Horchow is losing its standalone website on Feb. 19, with its inventory being absorbed into the Neiman Marcus online catalog.
For shoppers in cities like New Orleans, Phoenix, and Philadelphia, the news signals the end of local access to these legacy luxury brands. While the company’s Bergdorf Goodman stores are staying open as usual.
According to the company, the Saks Fifth Avenue and Neiman Marcus stores on the hit list “will stay open until the end of April,” giving local shoppers one last window to visit before the lights go out.
Saks Global is calling these “strategic actions” meant to save the business long-term. By narrowing their focus to only the most profitable cities, they hope to crawl out from under their massive debt. For now, the luxury retail experience is becoming a much more exclusive and much more limited.
Full List of Closing Saks Fifth Avenue Locations:
• Alabama: Birmingham (Summit Blvd.)
• Arizona: Phoenix (E. Camelback Road)
• Louisiana: New Orleans (Canal St.)
• New Jersey: East Rutherford (American Dream Way)
• Ohio: Columbus (Polaris Parkway)
• Oklahoma: Tulsa (Utica Square)
• Pennsylvania: Philadelphia/Bala Cynwyd (Bala Plaza)
• Virginia: Richmond (Stony Point Parkway)
Closing Neiman Marcus Location:
• Massachusetts: Boston
