The lux department store company plans to close two Saks Fifth Avenue stores in Plano, Texas, and Mission Viejo, Calif. That's in addition to stores in San Diego, Portland, Ore., and Charleston, S.C., that Saks closed a month earlier. CEO Steve Sadove said there may be more store closings to come this year.
Meanwhile, Saks is opening more of its discount Off 5th outlets in suburban Portland, Ore., Cypress, Texas, and Mebane, N.C. Sadove told analysts in a conference call that after two years on the defensive, the company has begun making investments in areas that will have the biggest impact on the bottom line.
Let's hope consumer cencentric events like the Frederic Fekkai Style Trail Event exclusively at Saks Fifth Ave nationwide on August 26 can boost sales!
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