February 19, 2013

Saks Fifth shutting Stamford store in ‘14

Upscale retailer Saks Inc. is shutting early next year its 30-year-old Saks Fifth Avenue department store in Stamford, which employs some 80 workers.

Sakes opened in Stamford Town Center in 1983.

Chairman and CEO Steve Sadove said the closing is the result of the Manhattan chain's ongoing review of the current and future profitability for each its 108 Saks Fifth Avenue department stores and Off 5th outlets.

Sadove said all affected workers either will be offered transfer opportunities or collect separation packages.

It has a Saks Fifth in Greenwich, and an Off 5th location at the Clinton Crossing Premium Outlet center.

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