(Filed Under Financial and General Interest News). Saks Incorporated has announced plans to close its Saks Fifth Avenue location in the Fashion Valley Mall in San Diego by July 17. The department store measures approximately 81,000-square-feet. Saks said it will offer the store’s approximately 70 associates the option of transferring to another Saks location, or the appropriate severance package.

Steve Sadove, chairman and chief executive officer of Saks, called the closing of the San Diego store part of the company’s overall strategy. “Store closing decisions are never easy but are necessary from time to time,” he said. “The planned closing of our San Diego store is consistent with our strategy of focusing our resources on our most productive stores.”

This news comes on the heels of the company’s announcement in March that it will close its Portland, Ore. location, also in July.

Saks Incorporated currently operates 53 Saks Fifth Avenue stores and 55 Off 5th stores.

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Published 05-03-2010 by Amanda Torres Price