nm. This is dumb.
I read an article that stated Saks will not be opening any new stores in the Southwest. They closed the Dallas Galleria location years ago.
Given the new Scheel's store setup in Tulsa, and Simon Malls, I wonder if they are waiting for one of the anchors to close at Penn Square Mall and move in like they did with the Sears space at Woodland Hills.
Also wonder if they would move in to Quail if JCPenny closed there instead of the Penn Square Store?
Saks is one of the retailers that keeps getting later and later on payments to vendors, signaling they are increasingly in financial stress. They won't be expanding anytime soon unless by acquisition of someone they think can make them more efficient. They have made runs at Neimans. But, the whole segment they are in is not a promising growth area.
You won’t see JC Penney leave either Penn or Quail. JCP is owned by Simon and Brookfield, which own Penn and Quail respectively. What you’ve been seeing is Simon and Brookfield, the 2 largest mall owners and operators, buying retailers out of bankruptcy and operating the stores themselves. This is a win for them because it keeps the stores from leaving their malls.
If a large store were to leave Penn it would probably be Macys at this point, although I don’t think there’s a good chance of that happening soon since that’s the last and only Macys store in the OKC market.
I’m actually kinda surprised the Tulsa Saks is still open. At this point I doubt Saks will be around 10 years from now. If you can’t survive in the Dallas market, you’re really hurting.
There are currently 1 users browsing this thread. (0 members and 1 guests)
Bookmarks