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High-end retailer Saks Fifth Avenue to close its San Francisco branch, marking almost half a century of operation.
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Saks Fifth Avenue Bids Adieu to Union Square, San Francisco
On May 10, Saks Fifth Avenue will close its doors at Union Square, San Francisco, joining a long line of brands departing the city. The luxury retailer will continue its journey, focusing on growth and serving the Bay Area community through Neiman Marcus San Francisco, Neiman Marcus Palo Alto, The Fifth Avenue Club Palo Alto, Saks.com, and NeimanMarcus.com.
The brand initially announced plans to switch to an appointment-only model last summer, and although it saw success in the format, further adjustments were necessary. Saks Global spokesperson shared the decision was part of their integration process, with no plans for broader consolidation in shared market locations featuring both Saks Fifth Avenue and Neiman Marcus stores.
Transfer opportunities at Neiman Marcus San Francisco will be considered for eligible employees, while those not eligible will receive appropriate separation packages. Since its opening in 1981, Saks Fifth Avenue has been a staple in San Francisco but uncertainty in the retail sector, coupled with shifting business strategies, have led to this decision.
BLOOMINGDALE'S: SAYING GOODBYE TO SAN FRANCISCO CENTRE
Bloomingdale's is set to bid farewell to its downtown San Francisco location by spring's end. The retailer has shared its hope to rejoin the San Francisco community in the future and continues to explore new ways to serve loyal shoppers.
Crime and instability in San Francisco have taken a toll on the retail industry, forcing several brands such as Denny's, Walgreens, Michael Kors, and others to shutter their locations. In 2025, the San Francisco Police Department has recorded over 8,100 crime reports, including 530 robberies and over 4,600 instances of larceny theft.
For comments regarding the matter, we reached out to the Union Square Alliance.
Contributions by FOX Business' Aislinn Murphy.
Background Insights:
Saks Fifth Avenue Closure:
- Saks Fifth Avenue's Union Square location change to the appointment-only model in July 2024 and subsequent closure in May 2025 are part of a company-wide integration process following the acquisition of Neiman Marcus in December 2024.
- The closure reflects Saks’ reprioritization and efforts to streamline operations for long-term growth, with no broader consolidation plan in markets where both Saks Fifth Avenue and Neiman Marcus stores operate.
- The closure also mirrors the challenges faced by retailers in San Francisco due to evolving consumer behavior and retail dynamics in the urban center.
Bloomingdale's and Other Retail Closures:
- Bloomingdale's is closing its San Francisco Centre location due to a combination of factors, including declining foot traffic, retail momentum, and mall instability post-pandemic.
- Luxury retailers like Rolex, Panerai, and IWC Schaffhausen have also shuttered stores in the area, reflecting the larger challenges in urban retail environments.
- The mall owners stopped paying the mortgage in 2023, and a foreclosure auction has been postponed multiple times, contributing to the mall's instability and retail departures.
- In 2025, the retail industry in San Francisco faces a challenges as Saks Fifth Avenue and Bloomingdale's prepare to shutter their doors at Union Square and San Francisco Centre respectively.
- Gary, a spokesperson for Saks Global, reveals that Saks Fifth Avenue's closure is part of a company-wide integration process following the acquisition of Neiman Marcus in December 2024.
- The retail sector in San Francisco, which has been affected by crime and instability, has seen several brands like Walgreens, Michael Kors, and Denny's close their locations, with Bloomingdale's and Saks Fifth Avenue following suit.
- In an attempt to address the issue, the Union Square Alliance has been reached out for comments regarding the matter.
- The financial industry is closely monitoring the situation, as retailers like Saks Fifth Avenue and Bloomingdale's hang on to a potential return to the San Francisco market in the future.
