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60 Years Later, Saks Ends Iconic Relationship with Southampton

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About 60 years after it first opened, Saks Fifth Avenue's Southampton outpost sold its last Chanel jacket (or something to that effect) on Saturday, October 9th. Needless to say, the stunning news begs some explanation, which is why Saks CEO Steve Sadove promptly released a statement last week. In the statement, Sadove pointed to poor productively, and lamented that "store closing decisions are difficult ones to make, but the planned closing ... is consistent with our strategy of deploying our planned resources in productive stores." Saks will ultimately leave behind 15,000-square-feet of prime retail space, 35 employees, and "a very loyal client base." Wait, so which brand will takeover the storefront next? New York does need a Neiman...
· Saks Fifth Avenue Bids Southampton Farewell After 60 Years [Hamptons.com]