Neiman Marcus to Close Dallas Flagship Store After Over 100 Years
Neiman Marcus’ iconic flagship store in Dallas will close on September 30, marking the end of an era after more than a century in business. This closure will result in the layoff of 67 employees from the luxury retailer’s flagship location.
The layoffs were disclosed in a government filing by Saks Global, the parent company, which sought bankruptcy protection earlier this year in January.
Positions affected include sales associates, seamstresses, and staff at the store’s upscale Zodiac Room restaurant.
The nine-story Renaissance Revival building at 1618 Main St., which opened its doors in 1914, employed over 200 workers in its heyday, as reported by former employees.
One longtime employee mentioned that the dwindling staff reflects “a lack of inventory and a lack of supply.” There was a noticeable drop in customer traffic, leading to the belief that investing further in the store wasn’t worthwhile.
After Saks Global acquired Neiman Marcus for $2.6 billion in 2024, there were initial plans to close the Dallas location, but these plans were reversed following pressure from local police to keep it open.
Saks Global attributed the closure to unusual circumstances involving co-owners of the building, who reportedly refused to renew the lease for the land beneath the store.
The more profitable North Park Dallas store is set to undergo a $100 million renovation and will be the only Neiman Marcus left in Dallas.
The company mentioned that some employees impacted by the layoffs may be offered positions at NorthPark.
During an announcement about the closures on June 2, Saks Global CEO Geoffroy Van Raemdonk told the Dallas Morning News, “The Dallas store is not profitable, so I think it’s up to the customer to decide where they want to access the Neiman Marcus brand.”
Sales figures at the North Park location are reportedly over ten times those at the downtown store, highlighting the contrasting performances.
Neiman Marcus’ exit represents a significant loss for downtown Dallas, which is already experiencing the departure of several major businesses, including AT&T and the Dallas Stars hockey team, both relocating to Plano.
The Dallas Mavericks are also planning to leave their current home at the American Airlines Center.
What will become of the downtown store building remains uncertain, as Saks Global is listed among the property owners.
