Overview
- Saks Off 5th confirmed it will shutter its Upper East Side flagship at 125 East 57th Street on December 31, 2025.
- Nine additional U.S. stores will begin closing in January 2026 in Austin, Chicago, Washington, D.C., East Hanover (NJ), Niagara Falls (NY), West Hartford (CT) and three Pennsylvania sites: Franklin Mall (Philadelphia Mills), Pittsburgh North (McKnight Road) and Plymouth Meeting.
- The retailer, which operates roughly 100 stores across the U.S. and Canada, says the move concentrates investment on high-performing and high-potential locations and online offerings.
- Saks Global has denied plans for Chapter 11 or a formal restructuring, saying it is focused on transformation and improved performance.
- The company has not announced layoff plans for affected locations, and the closures come as analysts track a broader wave of U.S. store reductions through the decade.