Saks Global Announces Additional Actions to Strengthen Luxury Retail Positioning and Drive Profitable and Sustainable Growth

Actions include concentrating Saks Fifth Avenue and Neiman Marcus store footprint in profitable locations with high-growth potential

Bergdorf Goodman's operational footprint remains unchanged

NEW YORK, Feb. 10, 2026 /PRNewswire/ -- Saks Global Enterprises LLC ("Saks Global" or the "Company"), a leading luxury retail company, today announced a series of strategic actions, including an initial phase of optimization across the Saks Fifth Avenue and Neiman Marcus store footprint. These actions are designed to advance Saks Global's transformation with a focus on serving luxury customers, strengthening brand partner relationships and driving full-price selling to enable profitable and sustainable growth.

"We are initiating a series of actions to reinforce Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman as the ultimate destinations for luxury with a seamless multi-channel shopping experience," said Geoffroy van Raemdonck, Chief Executive Officer of Saks Global. "By optimizing our operational footprint, we will be better positioned to deliver exceptional products, elevated experiences and highly personalized service across all channels, while simultaneously positioning our company to make investments that enable long-term growth and value creation. Importantly, opportunities within the luxury market remain strong, and Saks Global is primed to play a distinct, enduring role within the industry for many years to come."

Optimizing the Saks Fifth Avenue and Neiman Marcus Store Footprint
Saks Global is refining the Saks Fifth Avenue and Neiman Marcus store footprint to focus on profitable locations with the highest growth potential. Go-forward locations are being determined as part of the Company's ongoing footprint optimization plan, based on a number of factors including performance and lease economics. A list of the eight Saks Fifth Avenue and one Neiman Marcus locations to be closed in the first phase of this ongoing review can be found here.

The Company remains committed to serving customers in markets without a physical presence through its online and remote selling services to deliver the luxury assortments and service they expect no matter how they choose to engage.

With the exception of the select locations commencing closing sales, the Company's stores and ecommerce experiences across Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman are operating as usual. There are no changes to the Bergdorf Goodman operational footprint.

Evolving the Fifth Avenue Club Presence
Saks Global has made the strategic decision to close the majority of its standalone Fifth Avenue Club personal styling suites. This initiative was originally created to serve Saks Fifth Avenue customers in markets without a physical store presence. Since the 2024 acquisition of Neiman Marcus Group, the Company is now able to serve customers in many of these markets through the Neiman Marcus store portfolio. The luxury retailer plans to keep three locations in markets that present a growth opportunity for the Company.

Transitioning Horchow to Neiman Marcus' Online Home Experience
Beginning February 19, customers looking to shop with Horchow will be directed to the Home category on NeimanMarcus.com, where they will continue to find the full assortment of brands and product categories previously available on Horchow.com. This transition creates meaningful efficiencies and enables closer integration across merchandising, marketing and technology.

About Saks Global
Saks Global is the largest multi-brand luxury retailer in the world, comprising Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman, Saks OFF 5TH and Horchow. Its retail portfolio includes 70 full-line luxury locations, additional off-price locations and four distinct e-commerce experiences. With talented colleagues focused on delivering on our strategic vision, The Art of You, Saks Global is redefining luxury shopping by offering each customer a personalized experience that is unmistakably their own. By leveraging the most comprehensive luxury customer data platform in North America, cutting-edge technology, and strong partnerships with the world's most esteemed brands, Saks Global is shaping the future of luxury retail.

For more information, visit SaksGlobal.com and follow Saks Global on LinkedIn.

SOURCE Saks Global