Saks Inc provides updates on two California stores
09 May '06
3 min read
"This is the right decision at the right time for The Avenue of the Peninsula, and I'm proud that we could work closely with Saks to get it done," said Anton Kotze, Regional Vice President/General Manager, The Avenue of the Peninsula.
"The good news for our customers is we already have commitments from two well-known retailers for part of the Saks building, and we are currently working on deals for the balance of the space.
At the end of this effort we expect The Avenue of the Peninsula to have an exciting retail mix that meets the needs of our customers."
Mission Viejo
Conversely, the Company has decided to continue operation of its Saks Fifth Avenue Mission Viejo Mall store. Sadove commented, "After further analysis, we believe that the Mission Viejo store can achieve our profitability standards if appropriate resources are dedicated to this location. We look forward to continuing to serve our many loyal Mission Viejo customers in this beautiful store."
Saks Incorporated currently operates Saks Fifth Avenue Enterprises (SFAE), which consists of 55 Saks Fifth Avenue stores, 50 Saks Off 5th stores, and saks.com.
The Company also operates 38 Parisian stores and 60 Club Libby Lu specialty stores. In January 2006, the Company announced it is exploring strategic alternatives for Parisian.
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