The closure comes after several other department store closures in the area.
Saks Fifth Avenue is closing its store in Union Square, San Francisco, California.
The store’s closure joins a growing list of longtime retailers who are leaving the city’s prominent shopping and tourism hub.
The central location facing Post Street has long been a pillar of the neighborhood’s high-end shopping options.
The location will close on May 10, according to confirmation from the store’s parent company.
In 2024, Saks will transition to an appointment-only shopping model.
In December of that year, its parent company completed the acquisition of the Neiman Marcus Group.
“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,” a Saks Global spokesperson said in a statement.
The company also stated that it will continue to serve the Bay Area via its Neiman Marcus store in Union Square, another Neiman Marcus location in Palo Alto, the Fifth Avenue Club in Palo Alto, and online platforms.
“We are committed to treating every colleague with respect and fairness throughout the process,” the statement read.
“Transfer opportunities to Neiman Marcus San Francisco will be offered where possible, and eligible colleagues will be offered appropriate separation packages.”
Some Saks employees may be able to move on to new opportunities at Neiman Marcus across the street.
The loss of this location follows Macy’s 2024 announcement to close its well-known Union Square store, which is still pending.
Meanwhile, the nearby Bloomingdale’s closed earlier this year.
Zara, which had planned to relocate from its current Post Street location, announced in April that it would open a new four-story flagship nearby.
The highly anticipated Nintendo store is also set to open in Union Square on May 15th.
San Francisco Mayor Daniel Lurie has also expressed optimism about the area’s retail future.
He recently launched new retail pop-ups in Union Square under the city’s “Vacant to Vibrant” initiative.
Lurie’s administration has a major goal of revitalizing the downtown core, which includes initiatives such as the permanent SFPD Hospitality Zone Task Force, which ensures safety in popular districts all year.
It is still unclear who will take over the vacant space after Saks leaves the building.
But city officials are clearly eager to welcome new retail tenants.
Several signs in the square encourage businesses to consider leasing open storefronts.