Get ready to mark your calendars, because a true icon of San Francisco’s luxury retail scene is preparing to say its final farewell. Saks Fifth Avenue, a name synonymous with high fashion and upscale shopping for decades, is set to close the doors of its Union Square location for good.
This isn’t just any store closing; it’s a significant moment in the evolving story of downtown San Francisco’s shopping district. After years gracing Union Square, Saks Fifth Avenue has announced its permanent closure date as May 10, 2025. For nearly 30 years, since establishing its presence around Post and Powell Streets in 1997, this location has been a key destination for shoppers seeking the finest goods.
The decision comes as part of a larger strategic move by its parent company, Saks Global. This company recently merged with Neiman Marcus Group, and the closure is being framed as a key step in their integration process. The stated aim? Focusing on long-term growth for the combined entity.
Just last year, Saks had actually transitioned this particular store to an ‘appointment only’ shopping model. The idea behind that move was to enhance the shopping experience for customers. However, according to a Saks Global spokesperson, despite seeing “meaningful engagement and success through the appointment-only format,” the decision to close was made as part of their integration plans.
It seems the store was also facing challenges on its own. Neil Saunders, managing director of retail at GlobalData, commented that the San Francisco store was “underperforming,” and added that the appointment-only model ultimately wasn’t beneficial in reversing its fortunes.
This means Saks is following in the footsteps of several other well-known retailers who have recently exited San Francisco’s downtown core. The list includes other big names like Michael Kors, Walgreens, and Denny’s, highlighting a notable shift in the city’s retail landscape.
Notably, direct competitor Bloomingdale’s also closed its large store at the San Francisco Centre back in March. That closure was attributed, in part, to declining traffic and public safety concerns in the area. Walking through the San Francisco Centre now can be quite a different experience compared to just a decade ago when it was bustling with shoppers.
One shopper, Kiana Keihani, who works downtown, described the current state of the San Francisco Centre as “depressing, it’s sad.” She added, “I feel bad actually even looking at the sale because there are people who are out of jobs now.” This sentiment captures the human side of these major retail shifts.
Another local resident, Ces San Pedro, also expressed sadness, saying, “I feel sad that some of the stores are closing, we have nowhere to go you know.” This highlights the impact these closures have on the community and regular shoppers who relied on these stores.
The Bloomingdale’s closure, being one of the company’s largest nationwide, certainly drew attention. Signs went up announcing its final ten days, leading to busy crowds looking for deals. Audrey Williams, visiting from Washington, shared her mixed feelings, saying, “I got some clothes for my kids and a $13 dress,” finding the deals awesome, but lamenting, “obviously, I don’t like to see stores closing. I do a lot of online shopping, however, I still enjoy walking around a mall. There’s like a nostalgia that it brings, and I still like going through the clothes, so overall it just feels sad.”
Back to Saks, the integration strategy aims to consolidate Saks and Neiman Marcus to boost profits for Saks Global. Part of this involves serving Bay Area customers through other existing locations. The spokesperson mentioned Neiman Marcus San Francisco, Neiman Marcus Palo Alto, The Fifth Avenue Club Palo Alto, and the online platforms Saks.com and NeimanMarcus.com as places where shoppers can continue to find luxury goods.
