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Retailer Saks Incorporated
(“Saks” or the “Company”) today
announced that it plans to close its Saks Fifth Avenue store located in the
WestShore Plaza in Tampa, Florida on May 4, 2013.
Steve Sadove, Chairman and Chief Executive Officer of Saks, commented, “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.”
Approximately 105 associates are employed in the Tampa store. All affected
full-time and part-time associates either will be offered transfer
opportunities or will receive appropriate employment separation packages.
Sadove further noted, “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.”
The Company has operated its Saks Fifth Avenue store in Tampa since 1998. The
Company 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. The Company 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. Saks Fifth Avenue is proud to be
named a J.D. Power and Associates 2012 Customer Service Champion and is only
one of 50 U.S. companies so named.
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