AN iconic department store is closing its doors for good.
The closure follows several other department store closures in the area.
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Saks Fifth Avenue is closing its location in Union Square in San Francisco, California.
The closure of the longstanding store adds to a growing list of longtime retailers leaving the city’s prominent shopping and tourism hub.
The central location facing Post Street has long been a cornerstone of the area’s high-end retail offerings.
The location will shutter its doors on May 10, according to confirmation from the store’s parent company.
READ MORE ON STORE CLOSURES
In 2024, Saks shifted to an appointment-only shopping model.
In December of that year, its parent company finalized the acquisition of the Neiman Marcus Group.
“While we saw meaningful engagement and success through the appointment-only format, we have made this decision as part of our integration process as we focus on long-term growth,” a spokesperson for Saks Global said in a statement.
The company added that it will continue to serve the Bay Area through its Neiman Marcus store in Union Square, another Neiman Marcus location in Palo Alto, the Fifth Avenue Club in Palo Alto, and its online platforms.
“We are committed to treating every colleague with respect and fairness throughout the process,” the statement continued.
“Transfer opportunities to Neiman Marcus San Francisco will be offered where possible, and eligible colleagues will be offered appropriate separation packages.”
Some employees from the closing Saks location may have the chance to move into roles at Neiman Marcus across the street.
The loss of this location comes as a blow following Macy’s 2024 announcement to close its well-known Union Square store, though that shutdown is still pending.
Meanwhile, the nearby Bloomingdale’s shut down earlier this year.
Zara, which had planned to leave its current Post Street location, revealed in April that it would open a new four-level flagship nearby.
The highly-anticipated Nintendo store is also set to debut in Union Square on May 15.
San Francisco Mayor Daniel Lurie has also shared a positive outlook on the area’s retail future.
He recently introduced new retail pop-ups in Union Square through the city’s “Vacant to Vibrant” initiative.
Reviving the downtown core is a major goal of Lurie’s administration, which includes efforts like the permanent SFPD Hospitality Zone Task Force to ensure safety in popular districts year-round.
It is still unclear who plans to takeover the vacant space after Saks vacates the building.
But city officials are clearly keen to welcome fresh retail tenants.
Several signs in the square invite businesses to consider leasing the open storefronts.