February 6, 2026

Retail Realignment: National Shifts and Charleston’s Economic Resilience

Charleston SC, February 6, 2026

Charleston’s business ecosystem continues to thrive amidst national retail challenges as major chains like Saks Off 5th announce significant closures. The local entrepreneurship spirit remains strong, showcasing resilience and innovation. As national giants undergo restructuring, Charleston’s commitment to supporting small businesses and favorable policies positions it for sustained economic growth.

Retail Realignment: National Shifts and Charleston’s Economic Resilience

As national retail giants navigate challenging waters, Charleston’s dynamic business environment continues to thrive through innovation and local enterprise.

Charleston, SC – The retail landscape across the nation is experiencing significant transformations, as evidenced by recent announcements from major players in the industry. This period of adjustment, while challenging for some, also underscores the remarkable adaptability and innovative spirit that characterize local economies, particularly here in the Lowcountry. While major national chains reassess their strategies, the vibrant spirit of Charleston SC business, fueled by dedicated South Carolina entrepreneurs, continues to showcase resilience and a commitment to growth that resonates deeply within the community.

The evolving marketplace presents both hurdles and unique opportunities. For communities like Charleston, where small businesses and local initiatives form the bedrock of the Charleston County economy, these shifts can highlight the enduring value of local investment and entrepreneurial determination. It’s a testament to the fact that while national trends may dictate the pace for larger entities, local innovators often chart their own successful course, reinforcing the strength of localized economic development and community support.

National Retail Adjustments: Saks Off 5th Strategic Closures

Saks Global, the parent company of various luxury retail chains, has initiated a significant restructuring of its off-price operations, announcing the closure of the majority of its Saks Off 5th locations nationwide. This strategic realignment comes weeks after Saks Global filed for Chapter 11 bankruptcy protection. The company’s decision involves shutting down 57 Saks Off 5th stores across the United States. Of these, 23 stores ceased operations on February 2, with an additional 34 locations commencing closing sales from January 31.

Following these extensive closures, only 12 Saks Off 5th locations will remain operational nationwide. These select remaining stores are strategically located in New York, Florida, New Jersey, Georgia, California, and Texas. The purpose of these remaining physical outlets will be to serve primarily as a channel for selling residual inventory from Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman. In parallel with the physical store closures, Saks Off 5th’s e-commerce platform, saksoff5th.com, is also winding down its operations, with online closing sales having begun on January 30. Furthermore, all five Last Call stores, Neiman Marcus’s outlet chain acquired by Saks Global in 2024, are also slated for closure as part of this comprehensive reorganization. The bankruptcy filing itself was prompted by missed interest payments tied to the substantial 2024 acquisition of Neiman Marcus. For customers, gift cards for the closing physical stores will be honored until February 14. Returns and exchanges for items purchased before the closing sales will follow the company’s standard policies, however, purchases made from January 31 onward are considered final sale.

Understanding the Broader Retail Environment

The challenges faced by large national retailers like Saks Global are indicative of broader trends sweeping across the retail sector. Changes in consumer behavior, the continuous growth of e-commerce, and shifts in economic pressures have reshaped how businesses operate. In this dynamic climate, companies are compelled to adapt swiftly, often leading to strategic consolidations or a sharper focus on core competencies. This national recalibration underscores the importance of operational efficiency and responsiveness to market demands.

For communities, such changes prompt reflection on the composition and sustainability of local commerce. While large anchor stores have historically played a role, their downsizing often opens avenues for smaller, more agile businesses to expand their footprint and cater to niche markets.

Charleston’s Entrepreneurial Spirit Shines

In contrast to the broader national retail adjustments, the Charleston County economy continues to benefit from a robust entrepreneurial ecosystem. Charleston small business owners consistently demonstrate innovation and a proactive approach to evolving market conditions. Many local enterprises thrive by offering unique products, personalized services, and deeply integrated community experiences that larger chains often struggle to replicate. This focus on distinct value propositions and customer relationships forms a strong buffer against the fluctuations seen at the national level.

The ingenuity of South Carolina entrepreneurs in the Lowcountry is a driving force, turning potential challenges into opportunities for growth. Whether through developing specialized retail offerings, embracing digital platforms to reach wider audiences, or forming collaborative partnerships with other local businesses, Charleston’s entrepreneurial community consistently exemplifies resilience.

Fostering Economic Growth Through Local Policy

The ability of Charleston’s economy to navigate national retail shifts is also influenced by a local environment that often champions business growth. Policies that foster a competitive and accessible market, such as streamlined permitting processes or limited regulatory burdens, can empower local businesses to innovate and expand. When red tape is minimized, Charleston SC business owners can allocate more resources and time to product development, customer engagement, and job creation, thereby contributing directly to Lowcountry economic growth.

Community involvement also plays a pivotal role. Active consumer support for local establishments and collaborative efforts between business leaders and civic organizations create a resilient economic fabric. This collective commitment ensures that capital circulates within the local economy, supporting a diverse array of businesses and fostering widespread prosperity.

The Power of Private Investment and Community Engagement

Private investment is a critical component in stimulating Lowcountry economic growth, enabling small businesses to scale, innovate, and create new jobs. Local investors and venture capitalists, recognizing the unique potential within Charleston, often provide the necessary capital for promising startups and expanding enterprises. This infusion of private funds not only fuels individual business success but also contributes to the overall dynamism and competitiveness of the Charleston County economy.

Moreover, a high degree of community engagement, from residents consciously choosing local retailers to participation in local business forums, strengthens the economic ties that bind the region. This collective ethos of mutual support is invaluable, building a resilient and interconnected market that can absorb external pressures more effectively.

Conclusion: Charting a Course for Local Prosperity

The nationwide restructuring seen with Saks Off 5th is a clear indicator of the ongoing evolution within the retail industry. While large corporate entities navigate these complex changes, the experience highlights the inherent strengths of localized economies. Charleston’s steadfast commitment to fostering entrepreneurial innovation, supporting Charleston small business, and maintaining an environment conducive to private investment positions the Charleston SC business landscape for sustained prosperity. The proactive spirit of South Carolina entrepreneurs and the engaged nature of the community ensure that Lowcountry economic growth continues to be driven by local vision and resilience.

We encourage all residents to continue supporting our local businesses and remain engaged in discussions about Charleston’s economic future. Your choices empower the entrepreneurs who are building the next chapter of our vibrant community.

Frequently Asked Questions

Q: What is Saks Global’s recent announcement regarding Saks Off 5th?
A: Saks Global announced the closure of the majority of its Saks Off 5th locations nationwide.

Q: How many Saks Off 5th stores are closing nationwide?
A: A total of 57 Saks Off 5th stores are closing nationwide.

Q: How many Saks Off 5th stores will remain open nationwide?
A: Only 12 Saks Off 5th locations will remain open nationwide.

Q: In which states will the remaining Saks Off 5th stores be located?
A: The remaining stores are located in New York, Florida, New Jersey, Georgia, California, and Texas.

Q: What is the reason behind these nationwide closures?
A: The closures follow Saks Global’s filing for Chapter 11 bankruptcy protection and stemmed from missed interest payments related to its 2024 acquisition of Neiman Marcus.

Q: Are Saks Off 5th’s online operations also affected?
A: Yes, Saks Off 5th’s e-commerce operations (saksoff5th.com) are also winding down, with online closing sales having begun on January 30.

Q: Are any other associated stores closing?
A: Yes, all five Last Call stores, Neiman Marcus’s outlet chain, are also slated for closure.

Q: What is the policy for gift cards and returns at closing Saks Off 5th stores?
A: Gift cards for closing physical stores will be accepted until February 14. Returns and exchanges for items purchased before the closing sales will follow standard policies, but purchases made from January 31 onward are final sale.

Key Features of Saks Off 5th Closures (Nationwide)

Feature	Detail
Parent Company	Saks Global
Reason for Closures	Chapter 11 bankruptcy filing; missed interest payments from 2024 Neiman Marcus acquisition.
Total Stores Closing (Saks Off 5th)	57
Stores Ceased Operations by Feb 2	23
Stores Starting Closing Sales Jan 31	34
Stores Remaining Open	12
States with Remaining Stores	New York, Florida, New Jersey, Georgia, California, Texas
Purpose of Remaining Stores	Primarily to sell residual inventory from Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman.
E-commerce (saksoff5th.com)	Winding down operations, online closing sales began Jan 30.
Other Closures	All five Last Call stores (Neiman Marcus outlet chain).
Gift Card Acceptance	Until February 14 for physical stores.
Return/Exchange Policy (during sales)	Items purchased before closing sales follow standard policy; items from Jan 31 onward are final sale.