Luxury retail store Saks Fifth Avenue will close its Union Square store on May 10, the store's parent company confirmed. The departure is the latest of several legacy stores that have announced they are leaving the city's tourism and shopping district.
"Saks Fifth Avenue" is a name you can't miss on the skyline of San Francisco's Union Square. The store on Post Street directly faces the public square. Many local shoppers have come to see the store as a key pillar of the square's luxury shopping scene. Saks Global confirmed to NBC Bay Area that the Union Square store has been in that location since 1981.
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WATCH HERE"I think Saks Fifth Avenue has been a staple to Union Square for many years now, and it’s kind of sad as a local to see it go," said Frida Gilchrist of San Francisco, who was in Union Square Wednesday to visit the Apple store.
The news of the store's closure comes following several major changes. In 2024, the store began requiring customers to make appointments to shop. In December of 2024, Sak's parent company acquired the Neiman Marcus Group.
Saks Global spokesperson said in a statement Wednesday, "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."
The statement went on to say the retail group would still operate in the Bay Area at the Neiman Marcus in Union Square, the Neiman Marcus in Palo Alto, the Fifth Avenue Club in Palo Alto, as well as online stores.
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"We are committed to treating every colleague with respect and fairness throughout the process. Transfer opportunities to Neiman Marcus San Francisco will be offered where possible, and eligible colleagues will be offered appropriate separation packages," the statement continued.
Some employees at the soon-to-be-shuttered Saks Fifth Avenue Store may be able to transfer to jobs across the street at the Neiman Marcus store in Union Square.
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SIGN UP The loss of this store certainly stings after Macy's announced in 2024 plans to close its iconic Union Square store, though that hasn't happened yet. The Bloomingdale's nearby at San Francisco Centre closed earlier this year.
"I bought my suit at Bloomingdale's only to see a month later that they’re gone," noted Grant Johnson of San Francisco.
"I just think these stores are magnificent, I’d like to see them stay, they’re kind of fun to shop in," Johnson said.
Will Reisman, a spokesperson for the Union Square Alliance, said in a statement, "While the closing of Saks marks the end of an era, this was not an unforeseen development considering their recent changes to an appointment-only model, and Neiman Marcus acquisition."
"We expect the path to downtown revitalization to have its twists and turns—still we are extremely optimistic about the future of Union Square," Reisman continued.
The Union Square Alliance noted that some businesses are expanding and entering the area. The retailer Zara, which had already announced plans to close its current location on Post Street, announced in April plans to open a new, four-story flagship store in the area. On May 15, the highly anticipated Nintendo store is slated to open at Union Square.
San Francisco Mayor Daniel Lurie has also shown optimism about new business in the area. He recently announced several new Union Square retail pop-ups as part of the city's "Vacant to Vibrant" program. Lurie has made downtown revitalization a key focus of his administration, including a permanent San Francisco Police Hospitality Zone Task Force to keep Union Square and other hotspots safe year-round.
"I think this is like a turning point for Union Square, I’m hoping for the better," said Oakland resident Justin Chu, who said he has shopped for shoes at the Saks store before.
"Since we’re now in post-pandemic, more people are coming out to go out, buy more things, and help revitalize the local economy," he added.
No word yet on who will fill the void Saks is leaving behind. But the city is certainly eager to bring in more retail. Several signs around the square advertise to businesses who could lease out spaces.
"Hopefully, this means a new cycle for downtown SF, and I’m hopeful to see something brighter and better take its place," said Gilchrist.
