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RAPAPORT... Saks Incorporated plans to close its Saks Fifth Avenue store in the WestShore Plaza in Tampa, Florida on May 4. This location has been operated by Saks since 1998. During the past seven months, the department store has closed locations in Highland Park, Illinois, Austin and at the Dallas Galleria in Texas and in Stamford, Connecticut. Steve Sadove, the chairman of Saks, said that Tampa's store closing is part of the company's strategy to maximize use of its resources in the most productive stores. ''We regularly assess the productivity, profitability and potential of each of our stores and may determine that a closing is appropriate from time to time,'' he said. Approximately 105 associates are employed in the Tampa store. They will either be offered transfer opportunities or will receive appropriate employment separation packages, according to Saks. Sadove further noted, “These decisions are always difficult. We are extremely appreciative of our Tampa store associates, several of whom have worked with us for many years. We are committed to giving our associates needed assistance during this period.” Saks Fifth Avenue presently operates a store at Westfield Southgate, which is south of Tampa in the city of Sarasota, and it will be closed in the fourth quarter of 2014 when a new Saks opens nearby at The Mall at University Town Center. The proposed store is two levels, includes 80,000 square feet of floor space and is being co-developed by Taubman Centers and Benderson Development. The opening date is scheduled for October 16, 2014. The retailer also plans to premier its signature women’s shoe boutique, 10022-SHOE, an expanded space for the Saks Fifth Avenue Men’s Collection and an exclusive in-house restaurant at the new location. Saks operates nine other Saks Fifth Avenue stores and seven Saks Fifth Avenue OFF 5TH outlet stores in Floria. Nationally, Saks counts 43 Saks Fifth Avenue stores and 66 Saks Fifth Avenue OFF 5TH stores in its brick-and-mortar portfolio.
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