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In Drastic Downsizing, Saks Off Fifth Shuttering 57 Locations, E-commerce
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WWD
Bankrupt Saks Global confirmed Thursday that it’s winding down the majority of its off-price operations, including discontinuing Saks Off 5th e-commerce and closing down most Saks Off 5th stores.
The Saks Off 5th e-commerce operation and the Off 5th brick-and-mortar stores were split into separate companies three years ago.
The news confirms a report by WWD on Jan. 9 that around 50 Saks Off 5th stores would be closed.
It’s also likely that other stores in the Saks Global portfolio will close, including certain Saks Fifth Avenue and Neiman Marcus stores, as previously reported by WWD.
As such, Saks Global will move away from purchasing merchandise directly for Saks Off 5th.