Saks Global plans to close nine additional outlets and most standalone Fifth Avenue Club suites as it concentrates its luxury retail operations.
The group said eight Saks Fifth Avenue stores and one Neiman Marcus location will shut, alongside the majority of Fifth Avenue Club sites.
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Bergdorf Goodman will continue to operate with no changes to its footprint.
Saks Global described the moves as an initial optimisation phase across the Saks Fifth Avenue and Neiman Marcus estates, with further sites to be reviewed according to performance and lease terms.
Shops and e-commerce platforms across Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman will continue trading as normal, apart from locations entering closing sales.
Customers in markets without physical stores will still be served through online and remote selling channels.
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By GlobalDataThe retailer is also scaling back standalone Fifth Avenue Club locations, originally established for customers in areas lacking Saks Fifth Avenue stores.
Following its 2024 purchase of Neiman Marcus Group, the company said it can now reach many of those markets through the Neiman Marcus network and intends to keep three Fifth Avenue Club sites in regions showing growth potential.
Saks Global recently secured $1.75bn in committed capital and entered voluntary Chapter 11 protection as part of a financial restructuring.
In late January, Saks Global said it would close most off-price outlets under Chapter 11, including most Saks OFF 5TH stores and all remaining Last Call locations, to focus on luxury and full-price retail.
Saks Global CEO Geoffroy van Raemdonck said: “By optimising our operational footprint, we will be better positioned to deliver exceptional products, elevated experiences and highly personalised service across all channels, while simultaneously positioning our company to make investments that enable long-term growth and value creation.”
Separately, the company said that from 19 February, customers shopping online on its home furnishings brand Horchow will be redirected to Neiman Marcus’ website, where the full Horchow assortment will be offered.
It said the change is aimed at improving integration across merchandising, marketing and technology.
The retailer added that the steps form part of a broader effort to streamline its store portfolio and operations while maintaining service levels across its luxury brands.
