By Fox23.com News Staff
TULSA, Okla. — Saks Global announced the closure of eight Saks Fifth Avenue stores, including the Utica Square location in Tulsa.
These closures are part of a company-wide restructuring effort to “optimize its operational footprint.”
“We are initiating a series of actions to reinforce Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman as the ultimate destinations for luxury with a seamless multi-channel shopping experience,” said Geoffroy van Raemdonck, Chief Executive Officer of Saks Global. “By optimizing our operational footprint, we will be better positioned to deliver exceptional products, elevated experiences and highly personalized service across all channels, while simultaneously positioning our company to make investments that enable long-term growth and value creation. Importantly, opportunities within the luxury market remain strong, and Saks Global is primed to play a distinct, enduring role within the industry for many years to come.”
Saks Global said the Company will focus on profitable locations with the highest growth potential. The Company will close eight Saks Fifth Avenue locations and 1 Neiman Marcus location, including the Tulsa location at Utica Square. For a full list of Saks Fifth Avenue and Neiman Marcus locations to be closed, click here.
Saks Global will also close the majority of its standalone Fifth Avenue Club personal styling suites. You can find a list of the suites to be closed by clicking here.
The Company also said it “remains committed to serving customers in markets without a physical presence through its online and remote selling services to deliver the luxury assortments and service they expect no matter how they choose to engage.”
With the exception of the closing locations, the Company said its other stores are operating as usual and there are no changes to the Bergdorf Goodman operational footprint.
Saks Global said the stores targeted for closing will remain open until the end of April, according to the Associated Press.
For more information about the closures, click here.
