What: S5A new store will open in September 21 at the American Dream mall, a bit later than planned

Why it is important:  What retail crisis?

The Covid-19 pandemic has only delayed, not cancelled, the Saks Fifth Avenue project at The American Dream mall. Rescheduled many times, the latest date announced being March 21, the project is finally green-lighted for next September. It will be the only S5A location in New Jersey (in the past, the retailer used to operated at Short Hills and Riverside).

This is rather good news for The American Dream mall, whose owner Triple Five had to redeem 49% of stakes it owns in other malls, following a debt default on a construction loan. In addition, the mall was hampered by retailers planning to open a location there, but which went bankrupt beforehands (Barneys, Lord & Taylor, Century 21).

In addition to Saks Fifth Avenue, 100 retailers, including Primark, Hermés, Best Buy, are planned to open.

Saks Fifth Avenue Thumbs Up on American Dream