Saks Fifth Avenue has become the latest major retailer to announce its departure from San Francisco’s Union Square after nearly 45 years at the location.
According to combined media reports, the retailer’s five-floor store will close on May 10, less than a year after it switched its operations to an appointment-only format. The company closed its Saks Off Fifth branch on Market Street in 2023. The lease on the Union Square location was slated to expire in early 2027.
“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,” said a company spokesperson. “We look forward to serving the Bay Area community at Neiman Marcus San Francisco, Neiman Marcus Palo Alto, The Fifth Avenue Club Palo Alto, Saks.com and NeimanMarcus.com”
San Francisco has seen an exodus of major retailers, with company’s citing rising crime and the deterioration of the city’s quality of life. Saks’ shuttering follows Bloomingdale’s recently announcement it is closing its location at the San Francisco Centre shopping mall by late spring. However, some retailers are betting on a turnaround for the city’s business scene, with recent openings of Shoe Palace and Fashionphile stores and upcoming openings by the Nintendo Store and luxury menswear shop John Varvatos.
