Iconic Fashion Valley Store Being Shuttered

By Wendy Fry
|  Tuesday, May 4, 2010  |  Updated 5:16 PM PDT
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The luxury retail chain Saks Fifth Avenue is closing down its Fashion Valley location in July.

Saks announced the plans to close the store as part of a strategy to put less resources into underperforming stores and boost its nationwide profits. Saks said it will also close a store in Portland, Ore.,  in July.

The Fashion Valley location, which opened its doors in 1995, is nearly 81,000 square feet and employs about 60 employees, according to a store spokesman.

The Simon Property Group, which operates the Fashion Valley mall, has not yet returned phone calls to answer if a store has been slated to replace Saks. The mall also features Neiman Marcus, Bloomingdale's and Nordstrom shops.

Saks operates 52 Saks Fifth Avenue stores in other locations and 55 outlet stores called Off 5th, according to its website. The outlet store in Mission Valley will remain open.

The big question on every shopper's mind, of course, is: When does the closing sale start?

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