Saks Fifth Avenue to close Brookfield Place location
According to representatives from Saks Fifth Avenue's parent company Hudson's Bay Company (HBC), the 86,000-square-foot Brookfield Place locale served as an experimental location to test consumer preferences, with the end results showing that shoppers preferred Saks' digital platform and namesake Fifth Avenue store.
"This Saks branch location was a test concept where we learned even more about how our women’s customers like to shop in New York City," a PR representative said. "We determined that their preferred format is a combination of our digital channels and our iconic Fifth Avenue flagship, where our Grand Renovation is creating an unparalleled luxury shopping destination. The decision to close this location was not easy, and we intend to transfer as many sales associates to new roles as possible."
The Brookfield Place location opened in 2016. In addition to hosting Saks, Brookfield Place also houses Hudson's Bay, another HBC-owned brand.
While HBC reported widening losses in the second quarter, its Saks Fifth Avenue brand experienced a 6.7 percent increase in sales for the period.
Representatives said that Saks does not plan to close its Brookfield Place men’s location.
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