Saks Fifth Avenue To Close Another Store
Filed under: Luxury Shopping
How much is too much? That's the question Luxury Daily asked when considering the announcement that Saks Fifth Avenue is closing its seventh retail location since July, the Saks Fifth Avenue store at the Cherry Creek Shopping Center in Denver, Colorado. The luxury retail chain already closed its Saks Fifth Avenue stores in Mission Viejo and San Diego, CA; Southampton, NY; Portland, OR; Charleston, SC; and Plano, TX in 2010. The Saks Fifth Avenue Off 5TH store in The Legends at Sparks Marina in Reno/Sparks, Nevada also closed at the first of the year.Some luxury watchers cheered the move saying that it was a smart response to a changing luxury market. The news came out last week as Saks announced that revenue in stores open at least a year rose 11.8 percent in December. Another piece of good news: sales for the five weeks ended January 1 rose 10 percent to $432.2 million from $393.7 million a year earlier. The best-selling items of the month included women's and men's clothes, shoes, purses and makeup.
Approximately 100 associates are employed in the Denver Saks Fifth Avenue store which will close on March 19. All affected associates either will be offered transfer opportunities or will receive appropriate employment separation packages. The Denver store opened in 1990 and is approximately 87,000 square feet. The departure of the store leaves a hole in the Cherry Creek Shopping Center which may not be able to find an anchor store to fill the spot for some time. The space fronts East First Avenue, making it a prime spot for luxury shopping for the right tenant.
Why This '70s "It" Girl Became YSL's Muse
Luxury department store 


Whitney Houston Autopsy: Cause of Death Determined?
Whitney Houston, Bobbi Kristina: Late Singer's Daughter Hospitalized
Whitney Houston Dead: Singer Dies at 48, Body Found in Beverly Hilton Hotel
Whitney Houston Dead: Stars React to Legend's Sudden Death
Adele Five-Year Break? Singer Plans to Focus on Relationship, Write 'Happy Record'
Jennifer Hudson Whitney Tribute: Grammy President Reveals Why Singer Was Chosen for Musical Memorial
Grammy 2012 Winners' List: Adele Sweeps Music's Biggest Night
3 Economic Misconceptions That Need to Die
5-Hour Energy: A Success Equal Parts Caffeine, Chemistry and Meditation
People With Easy-To-Pronounce Names More Likely To Succeed, Study Says