What: Saks Global is closing Neiman Marcus at Willow Bend and selling the site for redevelopment, while focusing investment on more productive locations.

Why it is important: This move reflects Saks Global’s broader strategy of optimising its store network and investing in high-performing locations amid post-merger restructuring.

Neiman Marcus will close its Willow Bend store in Plano, Texas, as Saks Global sells the property to Centennial, a developer planning to transform the center into a mixed-use destination. The decision aligns with Saks Global’s ongoing efforts to streamline its store portfolio following its acquisition of Neiman Marcus Group, with a clear emphasis on cost-cutting and operational efficiency. While the Willow Bend location will remain open until January 2027, Saks Global continues to invest in more productive sites, notably the NorthPark Center store, which is recognised for its higher performance. The company is also working with the City of Dallas to potentially extend the life of its downtown Dallas flagship, reflecting a selective approach to market presence. Employees affected by the closure will be offered transfer opportunities or separation packages. This strategic repositioning comes as retail real estate evolves, with developers increasingly integrating residential, dining, and entertainment elements to revitalize shopping centers and respond to shifting consumer preferences.

IADS Notes: The closure of Neiman Marcus at Willow Bend exemplifies the post-merger restructuring and cost-cutting measures Saks Global has implemented since its $2.7 billion acquisition of Neiman Marcus Group, as detailed in Forbes (January 2025) and Inside Retail (August 2025). The company’s focus on consolidating its store network and investing in high-performing locations, such as NorthPark Center, is further supported by WWD (February 2025). Simultaneously, the redevelopment of retail centers into mixed-use destinations, highlighted by The Economist (April 2025), Los Angeles Times (March 2025), and WWD (December 2024), underscores the sector’s shift toward experiential retail and operational efficiency in response to evolving consumer behaviours.

Neiman Marcus to close Willow Bend store in Texas