Search
 

Saks To Open First Arkansas Unit

LITTLE ROCK, AR-Saks plans to open a Parisian unit here in 2006, its first store in the state. The 120,000-sf store will be part of Pleasant Ridge Town Center, a 300,000-sf lifestyle center.

By Ian Ritter | Updated on October 06, 2004

LIITLE ROCK, AR-Saks Inc. plans to open its first store in Arkansas, a 120,000-sf Parisian department store in Pleasant Ridge Town Center, a 300,000-sf lifestyle center here being developed by locally based Schickel Development. The announcement comes just days after company officials said they plan to close eight Saks Fifth Avenue department stores and three Saks Off Fifth outlets.Schickel officials have not set a ground breaking date for Pleasant Ridge but say they plan to open the center in the fall of 2006. Other anchor tenants the company is seeking include an upscale grocery store and a bookseller. The developer also owns the Pleasant Ridge West neighborhood center in Little Rock and Jefferson Square, a grocery-anchored center in Pine Bluff.Saks will start construction on the new store in the spring. The unit will be a Parisian “prototype,” says George Jones, company president and CEO, in a statement. “This store will be quite unlike a typical department store,” he says. “We have spent the past couple of years combing the world to discover the most innovative retail concepts, and we will incorporate many of these elements into what will be a very unique and exciting shopping experience.”Saks is closing most of the 11 department and outlet stores because they take up 7% of the chain’s total sf, while only accounting for 4% of revenues. Analysts say the measure will improve the efficiency of the company’s portfolio.Saks Department Store Group operates 240 stores across the country, 42 of the Parisians, which are in the Southeast and Midwest. The company also currently owns 64 Saks Fifth Avenues and 54 Saks Off Fifth Stores.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.