Saks closing Highland Park store
BY SANDRA GUY Business Reporter firstname.lastname@example.org September 5, 2012 10:30AM
Updated: October 7, 2012 7:54AM
Saks will close its Saks Fifth Avenue store in Renaissance Place shopping center in Highland Park on Dec. 31, where 60 workers will lose their jobs.
The 49,000-square-foot store, which opened 12 years ago, failed to attract the sales and profitability Saks expects, the company said in a statement.
Shoppers’ closest alternative is the Saks Fifth Avenue store at 700 N. Michigan Ave. in Chicago. The company operates its lower-price “Off 5th” stores at Village Square mall in Northbrook, Gurnee Mills in Gurnee and at Woodfield Mall in Schaumburg.
“These planned closings are consistent with our strategy of employing our resources in our most productive locations,” said Saks CEO Steve Sadove in a statement.