High-end retailer Saks Incorporated announced that it plans to close its Saks Fifth Avenue stores located in Austin’s Arboretum Market at the end of the year.
Approximately 64 associates are employed in the Austin store. The retailer says all affected associates either will be offered transfer opportunities or will receive employment separation packages. Saks will also be closing down a location in Highland Park, Illinois.
“Store closing decisions are never easy,” Saks Chairman and Chief Executive Officer Steve Sadove says in a statement. “We are very appreciative of our many loyal associates in both the Highland Park and Austin Saks Fifth Avenue stores, and we are committed to providing them with needed assistance during this period.”