Saks closing Austin store in December

AUSTIN (KXAN) - Austin is going to lose an Arboretum retail store on New Year's Eve, as announced Thursday by Saks Incorporated.

The company announced it plans to close its Saks Fifth Avenue stores located in Austin and a second store at Renaissance Place in Highland Park, Ill. Both stores are expected to close on Dec. 31.

“Store closing decisions are never easy. 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.”

"We routinely assess the productivity, profitability and potential of each of our stores and may conclude closings are necessary from time to time," said Steve Sadove, chairman and chief executive officer of Saks. "These planned closings are consistent with our strategy of employing our resources in our most productive locations.”

Approximately 64 associates are employed in the Austin store. All affected associates either will be offered transfer opportunities or receive appropriate employment separation packages. About 60 are employed in Highland Park's location.

"Store closing decisions are never easy," Sadove said. "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.”

The Austin store opened in 1997 and is approximately 52,000 square feet. The company also operates Saks Fifth Avenue stores in Dallas, Houston and San Antonio.