Saks to Discontinue Club Libby Lu

New York City Saks Inc. announced its plans to discontinue the operations of its unprofitable Club Libby Lu specialty store business.

Club Libby Lu is an experience-driven retail concept catering to “tween” girls aged 4 to 12. The company acquired Club Libby Lu in 2003 primarily as a growth vehicle and traffic driver for its Saks Department Store Group business, which has since been sold.

The company expects the Club Libby Lu store-closure process will be completed by the end of the company’s first fiscal quarter ending May 2.

The company currently operates 78 Club Libby Lu stand-alone stores in malls nationwide and 20 Club Libby Lu store-in-stores within former SDSG stores.

All Club Libby Lu locations are leased, with an average store size of 1,100 sq. ft. Club Libby Lu generated revenues of approximately $60 million for the fiscal year ended Feb. 2, 2008.

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