{"id":21965,"date":"2026-02-03T14:10:12","date_gmt":"2026-02-03T21:10:12","guid":{"rendered":"https:\/\/footwearmagazine.com\/?p=21965"},"modified":"2026-03-17T09:22:51","modified_gmt":"2026-03-17T15:22:51","slug":"saks-global-closes-stores-luxury-growth","status":"publish","type":"post","link":"https:\/\/footwearmagazine.com\/?p=21965","title":{"rendered":"Saks Global Closes 57 Stores to Drive Full Price Luxury Growth"},"content":{"rendered":"

Saks Global<\/span><\/a> is dramatically reshaping its off price strategy, closing most Saks OFF 5TH and all remaining Last Call stores as it doubles down on luxury retail and full price selling across <\/span>Saks Fifth Avenue<\/span><\/a>, <\/span>Neiman Marcus<\/span><\/a>, and <\/span>Bergdorf Goodman<\/span><\/a>. The move, announced from New York on January 29, 2026, is part of a broader transformation aimed at driving sustainable, profitable growth and focusing capital on the company\u2019s luxury customers and brand partners.\u200b<\/span><\/p>\n

Off Price Footprint Shrinks To A Support Role<\/b><\/h3>\n

Following a thorough review of its off\u2011price operations, Saks Global has decided to close the majority of Saks OFF 5TH locations and wind down all remaining Last Call stores. Store closing sales at selected Saks OFF 5TH units and all Last Call sites are set to begin on <\/span>Saturday, January 31<\/span><\/a>, subject to approvals within the chapter 11 process.<\/span><\/p>\n

A smaller group of Saks OFF 5TH stores will remain open, but their role will shift: they will primarily serve as a selling channel for residual inventory flowing from Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, rather than buying directly for off price. As part of this pivot, Saks Global will move away from purchasing dedicated merchandise for Saks OFF 5TH, instead using the channel to support full price inventory productivity.\u200b<\/span><\/p>\n

Saksoff5th.com Begins Wind Down<\/b><\/h3>\n

In parallel, <\/span>saksoff5th.com<\/span><\/a>, a separate legal entity from Saks Global, has decided to wind down its ecommerce operations. An online closing sale is scheduled to start on <\/span>Friday, January 30<\/span><\/a>, with customers encouraged to shop early while selection is strongest.\u200b<\/span><\/p>\n

During the closing period, both the Saks OFF 5TH ecommerce business and brick and mortar stores will retain the flexibility to pivot to alternative transactions if attractive options emerge. To support this process, Saks Global and saksoff5th.com have engaged Great American to assist with inventory management across closing stores and the website.\u200b<\/span><\/p>\n

Full Price Luxury And Brand Partners First<\/b><\/h3>\n

The company frames these steps as a sharpening of focus on luxury retail and full price selling across its core banners. By winding down most off price operations, Saks Global aims to redeploy resources into experiences and assortments that resonate with high value clients of Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, and to bolster relationships with leading luxury brands.\u200b<\/span><\/p>\n

\u201cAs we advance on Saks Global\u2019s transformation, we are taking decisive steps to realign our business to better serve our luxury customers and drive full\u2011price selling across our core luxury businesses,\u201d <\/span>Geoffroy van Raemdonck, Chief Executive Officer of Saks Global<\/b>, <\/span>said<\/span><\/a>. He added that “With these actions, we will be well positioned to seize the greatest opportunities for long-term growth and value creation. We sincerely thank our Saks OFF 5TH and Last Call colleagues for the important role they have played in serving our loyal customers.”<\/span><\/p>\n

Liquidity And Chapter 11 Backdrop<\/b><\/h3>\n

The off price reset comes as Saks Global continues to draw on the initial $500 million tranche of a $1.75 billion committed capital package that supports operations and transformation initiatives. That funding is earmarked, among other things, to facilitate go forward payments to brand partners and to accelerate inventory flow across full price retail brands.\u200b<\/span><\/p>\n

Throughout the process, Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman stores and ecommerce sites remain open and operating as usual. The group is using Chapter 11 proceedings to refine its operational footprint, focusing on the parts of the portfolio that best support a long term, data led luxury strategy.\u200b<\/span><\/p>\n

Advisors On The Restructuring<\/b><\/h3>\n

To steer the restructuring and off price wind down, Saks Global has assembled a bench of advisors. <\/span>Willkie Farr & Gallagher LLP<\/span><\/a> and <\/span>Haynes and Boone LLP<\/span><\/a> are serving as legal counsel, <\/span>PJT Partners LP<\/span><\/a> as investment banker, <\/span>Berkeley Research Group<\/span><\/a> as financial advisor, and <\/span>C Street Advisory Group <\/span><\/a>as strategic communications advisor to Saks Global.\u200b<\/span><\/p>\n

For saksoff5th.com, <\/span>Bradley Arant Boult Cummings LLP<\/span><\/a> is acting as legal counsel and <\/span>Accordion Partners<\/span><\/a> as financial advisor. Great American supports inventory management and monetization throughout the closing sales at saksoff5th.com, Saks OFF 5TH, and Last Call locations.\u200b<\/span><\/p>\n

Saks Global\u2019s Position In Luxury<\/b><\/h3>\n

Today, Saks Global describes itself as the largest multi brand luxury retailer in the world, with a portfolio that includes Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman, Saks OFF 5TH, Last Call, and Horchow. The group\u2019s retail footprint features 70 full line luxury locations, additional off price stores, and five distinct ecommerce experiences, supported by what it calls the most comprehensive luxury customer data platform in North America.\u200b<\/span><\/p>\n

Through <\/span>Saks Global Properties & Investments<\/span><\/a>, the company also controls flagship properties for Saks Fifth Avenue and Neiman Marcus, representing nearly 13 million square feet of prime U.S. luxury real estate. As it leans into \u2018<\/span>The Art of You<\/span><\/a>\u2019 positioning and a more focused store strategy, the group is aiming for a tighter, data rich, and brand partner aligned model.\u200b<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"Saks Global is dramatically reshaping its off price strategy, closing most Saks OFF 5TH and all remaining 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