Tuesday, January 29, 2013
Saks at Galleria Dallas is closing, to be replaced by Belk
Dallas shoppers, is this good news?
"Texas has been a very strong market for us, and we see great opportunities for growth in the state," said Tim Belk, chairman & CEO and grandson of founder William Henry Belk, in a statement. The three-story store will be bigger than most Belks, which run between 60,000 and 100,000 square feet, according to The Dallas Morning News.
According to a statement, the new store is part of a $600 million investment from Belk to expand their brand, and they'd like to boost their sales from $3.7 billion last year to $6 billion in five years. Galleria Dallas and Belk will jointly invest $20 million to improve the building at Galleria Dallas.
Saks officially closes June 15, 2013. You know what that means: Sale rack!