Charleston SC, January 30, 2026
Saks Global has announced the closure of 57 Saks OFF 5TH stores across the country, significantly impacting the retail landscape. Among the closures are two locations in South Carolina — one at Tanger Outlets in North Charleston and another in Bluffton. This restructuring follows Saks Global’s Chapter 11 bankruptcy filing and aims to refocus on luxury brands. The North Charleston store will begin its closing sale on February 2, while the overall changes in operations reflect a strategic pivot influenced by mounting debt and evolving market dynamics.
Charleston
Luxury Retailer Saks OFF 5TH Announces Major Closures, Including Lowcountry Location
In a significant shift within the retail landscape, Saks Global has initiated a nationwide restructuring, leading to the closure of most of its Saks OFF 5TH off-price stores. This strategic realignment will directly impact the Lowcountry, with the North Charleston location at Tanger Outlets among those slated to close its doors.
The announcement underscores the dynamic nature of the modern marketplace, where even established brands must adapt to evolving consumer preferences and economic pressures. For Charleston SC business owners and residents, this event highlights the continuous need for entrepreneurial innovation and strategic adaptation to thrive in a competitive environment. While a national decision, the local impact resonates, reminding us of the constant churn and transformation inherent in a free market economy.
Saks Global’s decision stems from a broader strategic move to refocus on its core luxury brands and full-price selling. This emphasizes a trend seen across various sectors: businesses are sharpening their focus and streamlining operations to enhance efficiency and customer value. Such moves, though sometimes leading to difficult decisions, are often crucial for long-term economic growth and a healthy business climate.
National Restructuring Impacts South Carolina’s Off-Price Market
Saks Global, the parent company of prestigious luxury retailers such as Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, recently announced a substantial restructuring plan that includes the permanent closure of the majority of its Saks OFF 5TH locations Nationwide. This sweeping change will see 57 Saks OFF 5TH stores closing across the country, with only 12 Saks OFF 5TH stores remaining open Nationwide. The two Saks OFF 5TH stores in South Carolina are part of these closures. Specifically, the Tanger Outlets store in North Charleston is confirmed to be closing, alongside another location in Bluffton, serving the Hilton Head area. Closing sales for these locations are anticipated to commence on either January 31 or February 2, with the North Charleston store’s sales expected to begin on February 2.
Behind the Closures: A Strategic Pivot Amidst Economic Headwinds
The impetus for these widespread closures is rooted in Saks Global’s filing for Chapter 11 bankruptcy protection in mid-January. This financial maneuver is part of a broader strategy to realign the company’s business model and enhance its focus on its high-end, full-price luxury brands. The company cited significant debt as a primary factor, largely stemming from its substantial $2.7 billion acquisition of Neiman Marcus in 2024. This acquisition, coupled with a reported rapid consumer shift in luxury goods influenced by inflating prices, placed considerable strain on the retailer’s financial health.
Beyond the debt, industry analysts point to other challenges that contributed to the need for such drastic restructuring. These include inventory missteps and increasing competition from direct-to-consumer (DTC) channels, where brands are investing in their own retail experiences and online presence. This shift highlights the competitive pressures faced by traditional department store models and the importance for businesses, including Charleston small business owners, to constantly innovate and connect directly with their customer base.
The Future of Off-Price Retail and Remaining Operations
The 12 Saks OFF 5TH stores that will remain operational Nationwide will undergo a significant change in their function. Rather than operating as standalone off-price retailers with their own merchandise purchasing, they will primarily serve as a selling channel for residual inventory from Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman. This indicates a strategic move by Saks Global to fully wind down direct purchasing for the off-price segment, consolidating its efforts around its core luxury offerings. Furthermore, saksoff5th.com, which functions as a separate legal entity, is also slated to wind down its operations, with an online closing sale having already begun on January 30.
Impact on Charleston County Economy and Local Businesses
While the closure of a national chain like Saks OFF 5TH represents a shift in the local retail landscape, the Charleston County economy has consistently demonstrated resilience and adaptability. Charleston SC business leaders often find opportunities amidst changes, showcasing the spirit of South Carolina entrepreneurs. The Lowcountry economic growth is frequently propelled by innovative local ventures and targeted private investment that cater specifically to the community’s unique demands. Such market adjustments can, in turn, open up new avenues for local businesses, fostering diversification and strengthening community-focused retail experiences. The area’s robust economic environment is often a testament to the benefits of limited regulation, allowing businesses to pivot quickly and efficiently in response to market signals.
Consumer Considerations and Supporting Local
For customers, Saks Global has affirmed its commitment to honoring existing customer loyalty programs, compensating vendors, and ensuring employees are paid. Specific guidance has been issued regarding gift cards: existing gift cards will be accepted in-store through February 14 and online through February 13. However, the purchase of new gift cards is no longer permitted. As this chapter closes for a national retailer, it serves as a timely reminder for Charleston residents to rally around and support the vibrant array of local businesses and South Carolina entrepreneurs that contribute significantly to the unique character and sustained economic vitality of our community.
Conclusion
The impending closure of Saks OFF 5TH stores Nationwide, including the location in North Charleston, reflects broader changes within the retail sector and Saks Global’s strategic pivot towards its luxury core. While such transitions can bring temporary adjustments, they also underscore the critical importance of a dynamic and adaptable Charleston SC business environment. As we observe these shifts, the focus remains on fostering an economy that champions local ingenuity, prudent investment, and the enduring resilience of our community. We encourage everyone to continue engaging with and supporting the diverse range of local businesses that are the true engines of Lowcountry economic growth.
Frequently Asked Questions
How many Saks OFF 5TH stores are closing Nationwide?
Saks Global is closing 57 Saks OFF 5TH locations Nationwide. Only 12 Saks OFF 5TH stores will remain open Nationwide.
Are Saks OFF 5TH stores in South Carolina closing?
Yes, the two Saks OFF 5TH stores in South Carolina are closing. One of these locations is the Tanger Outlets store in North Charleston, and the other is in Bluffton (Hilton Head area).
When will the Saks OFF 5TH store in North Charleston close?
The closing sale for the Saks OFF 5TH store in North Charleston is scheduled to begin on February 2.
Why are Saks OFF 5TH stores closing?
Saks Global filed for Chapter 11 bankruptcy protection in mid-January. The company is undergoing restructuring to focus on its luxury brands and full-price selling. This strategic shift is aimed at addressing significant debt, partly from its $2.7 billion acquisition of Neiman Marcus in 2024, and a rapid consumer shift in luxury goods due to inflating prices. Other contributing factors include inventory challenges and increasing competition from brands investing in direct-to-consumer (DTC) channels.
What will happen to saksoff5th.com?
Saksoff5th.com, which is a separate legal entity, will also wind down its operations, with an online closing sale beginning January 30.
Will existing Saks OFF 5TH gift cards be honored?
Existing gift cards will be accepted through February 14 in-store and February 13 online. New gift cards can no longer be purchased.
Saks OFF 5TH Closures: Key Details
| Feature | Details | Scope |
|---|---|---|
| Total Stores Closing | 57 Saks OFF 5TH locations | Nationwide |
| Stores Remaining Open | 12 Saks OFF 5TH stores | Nationwide |
| SC Stores Closing | Two locations, including North Charleston (Tanger Outlets) and Bluffton (Hilton Head area) | State-level |
| North Charleston Closing Sale Start Date | February 2 | Local |
| Primary Reason for Closures | Saks Global filed for Chapter 11 bankruptcy protection, strategic focus on luxury brands and full-price selling | Nationwide |
| Contributing Factors | $2.7 billion acquisition of Neiman Marcus in 2024, rapid consumer shift in luxury goods due to inflating prices, inventory challenges, increasing DTC competition | Nationwide |
| Purpose of Remaining Stores | Serve as a selling channel for residual inventory from Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman | Nationwide |
| Online Store (saksoff5th.com) | Winding down operations, online closing sale began January 30 | Nationwide |
| Gift Card Acceptance | Existing gift cards accepted through February 14 (in-store) and February 13 (online); new gift cards no longer sold | Nationwide |
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