NEW YORK — Retailer Saks Incorporated will be closing its Saks Fifth Avenue store located in the WestShore Plaza in Tampa, Fla., May 4.
“This planned closing is in line with our strategy of using our resources in our most productive Saks Fifth Avenue stores. We regularly assess the productivity, profitability and potential of each of our stores and may determine that a closing is appropriate from time to time,” said Steve Sadove, chairman and CEO of Saks.
Approximately 105 associates are employed at the Tampa store. All affected full-time and part-time associates will either be offered transfer opportunities or receive appropriate employment separation packages.
“These decisions are always difficult. We are extremely appreciative of our Tampa store associates, several of whom have worked with us for many years. We are committed to giving our associates needed assistance during this period,” added Sadove.
The company has operated its Saks Fifth Avenue store in Tampa since 1998. It operates nine other Saks Fifth Avenue stores throughout Florida, including a store in nearby Sarasota. The company plans to open a new Saks Fifth Avenue store in Sarasota’s Mall at University Town Center in 2014, meaningfully expanding its presence in that market. It also operates seven Saks Fifth Avenue Off 5th outlet stores throughout the state.
Saks Incorporated currently operates 43 Saks Fifth Avenue stores, 66 Saks Fifth Avenue Off 5th stores and saks.com.