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Saks Global Advances Store Portfolio Optimization to Solidify Position as the Premier Luxury Destination and Drive Sustainable Growth

Saks Global announced on March 6, 2026, the closure of 12 Saks Fifth Avenue and 3 Neiman Marcus locations in a New York press release as part of portfolio optimization.
To sharpen focus on luxury customers, the company said last month that Saks Global Enterprises LLC's closures build on earlier plans, with CEO Geoffroy van Raemdonck describing it as 'part of our ongoing transformation'.
Inventory flow accelerated as more than 500 brands resumed shipping, releasing close to $1.3 billion in retail receipts and accounting for over 80% of the inventory expected from February through April.
With access to approximately $825 million of $1.75 billion in committed capital, Saks Global improved liquidity to fund new orders and renewed full-price selling strengthened brand partner confidence.
Saks Global will serve markets without physical stores via ecommerce and remote selling, while retail banners will differentiate through distinct assortments and elevated experiences, said Geoffroy van Raemdonck.

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Saks Global Advances Store Portfolio Optimization to Solidify Position as the Premier Luxury Destination and Drive Sustainable Growth

Saks Fifth Avenue and Neiman Marcus go-forward store footprint to include best-performing and most desirable locations in markets with a high concentration of luxury customers

6 days ago

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