Saks at Galleria Dallas is closing, to be replaced by Belk

by Sarah Blaskovich

• Tweet
• Email
• Print
• 0 Comments

Dallas shoppers, is this good news?

DALLAS — This summer, the Saks Fifth Avenue at Galleria Dallas will shut its doors and be replaced by Belk. The 170,000-square-foot Belk will open in spring 2014.

"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 also closed the store at Shops at Willow Bend in Plano in 2010. The DMN reports that Saks has been "aggressively closing unprofitable stores."

Saks will still exist in the North Texas area with its three outlet stores called Off 5th at Shops at Park Pane in Dallas, Paragon Outlets in Grand Prairie, and at Grapevine Mills.

Saks officially closes June 15, 2013. You know what that means: Sale rack!

Follow @sblaskovich

Tweet