Retailer Saks Incorporated announced its plans to close its 20,000 square foot Saks Fifth Avenue OFF 5TH (“OFF 5TH”) store in Triangle Factory Outlets in Morrisville, North Carolina (metropolitan Raleigh) by January 1, 2012.
The Company opened a new 30,000 square foot OFF 5TH location in Tanger Outlet Center of the Piedmont in nearby Mebane, North Carolina (metropolitan Raleigh) in 2010, which will serve as a replacement store for the closing location. The new Mebane store was designed in the Company’s innovative “luxury in a loft” format that debuted in 2008 and which redefined and elevated the outlet shopping experience.
Robert Wallstrom, President of Saks Fifth Avenue OFF 5TH, noted, “We have many loyal OFF 5TH customers in the metropolitan Raleigh area and hope to continue to serve them with our newer Mebane location.”
Approximately 20 associates are employed in the Morrisville OFF 5TH location. All affected associates either will be offered transfer opportunities or will receive appropriate employment separation packages. Wallstrom continued, “It is never easy to close a store. We are very grateful for our dedicated associates in this location, many of whom have been with us for several years. As always, we are committed to providing needed assistance to these associates during this period.”
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