Saks Global, Downtown Consortium Spar Over Neiman Marcus Narrative
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A war of words broke out on Tuesday between Saks Global and a consortium of local stakeholders over the pending closure of Neiman Marcus’ flagship store in downtown Dallas.
The public relations spat preceded a meeting that was supposedly going to take place at city hall on Wednesday between the Dallas Consortium for the Downtown Neiman Marcus and Saks Global executives.
Now, it looks like that meeting’s been scrapped — if it was ever real at all — and local leaders are making noise about leading a delegation to Saks Global headquarters in New York City to argue for the continued operation of the cherished downtown landmark.
So, what the hell is going on?
‘Our Decision To Close the Neiman Marcus Downtown Dallas Store Is Final’
Saks Global issued a scathing statement Tuesday morning accusing city officials and the consortium of “using the press” to pressure it to abandon its plans for the D-FW market, which include closing the flagship store and sinking serious dollars into the NorthPark location.
Granted, every statement by the consortium declaring its intent to find a way for the store to stay open was met by reaffirmations by Saks that it was going forward with the closure, but hope springs eternal.
After all, the City of Dallas had secured the deed to a parcel of land beneath the historic building — the very lease Saks Global had suggested was the driving force behind its decision to close the store.
Seemingly confirming the company’s narrative was an internal memo acquired by The Dallas Morning News. It purportedly stated that the decision to close the location was not related to store performance or Saks Global’s acquisition of Neiman Marcus Group that was completed in December 2024.
Multiple media outlets reported that members of the consortium and city officials were going to meet with Saks executives on Wednesday to discuss the matter. However, a company spokesperson insisted that while Saks had been willing to hear out the consortium, no such meeting was ever finalized.
The spokesperson also claimed that attempts by the company to reach City Manager Kimberly Tolbert directly were “denied.”
“Even after our corrections to their previous false statements, they continue to go to the press, making inaccurate claims,” the spokesperson told CandysDirt.com in an emailed statement. “Our decision to close the Neiman Marcus Downtown Dallas store is final and we are moving forward as such.”
“We are committed to growth, and are focused on Neiman Marcus’ future in Dallas. That future is at the NorthPark store, where we are planning a $100 million renovation,” the spokesperson added.
The Consortium Claps Back
At a press conference held outside the iconic retail outlet on Main Street, consortium member Shawn Todd of Todd Interests re-litigated the course of events and public statements that led him and other Dallasites to believe there was a path forward for the flagship store, citing statements by a Saks spokesperson and Saks Global CEO Marc Metrick.
He also noted that Saks Global Properties and Investments CEO Ian Putman had in fact agreed to meet with the city manager and expressed bewilderment at the company’s commitment to shuttering the flagship store.
“One plus one should add up to two. If you have an operating store, as stated, and it’s profitable, as stated, and your sole reason for closing this store was a ground lease that you worked for decades and couldn’t reach agreement that’s now been solved by the City of Dallas, then candidly, I’m at a loss,” Todd said.
He stressed the importance of maintaining the downtown store, highlighting Neiman Marcus’ humble beginnings as a local retailer more than 100 years ago.
“This magnificent store for decades has been the heartbeat, the light blood, the brain. It’s been everything to do with luxury retail around the world. It all started here in Texas,” Todd said.
Downtown Dallas, Inc. CEO Jennifer Scripps was also present, and she read a statement by Tolbert, who was unable to attend the press conference.
“Last Tuesday, Mr. Ian Putnam agreed to meet in Dallas this Wednesday, and I have made myself available to meet with them. Since then, I, as city manager, received the deed to the parcel of property that was previously an issue for them,” Tolbert had said.
“We hope that Saks will live up to their word to come and meet with the consortium in person, otherwise, I am personally happy to lead a delegation to New York City for a productive meeting,” the city manager added.
‘Saks Global Is Just a Container Holding Assets for a Venture Capital Company’
It is debatable whether such an excursion to the Big Apple would be at all fruitful. Saks does appear to have dug in its heels, but on the other hand, the company is clearly sensitive to any insinuation that it wants to close the store, opting instead to blame the consortium for needlessly fermenting hope the location can be saved.
One social media user didn’t mince words about his take on the matter.
“Saks Global is just a container holding assets for a venture capital company. It’s not Saks 5th Avenue. Saks and Neimans both signed their own death warrants when they sold out to vultures,” Dallas resident Bruce Richardson wrote in the Facebook group Reform Dallas. “I guarantee you, if Saks Global comes up with a ‘plan’ to keep that downtown store open, it will cost Dallas a ton of money, and still ultimately be doomed.”
CandysDirt.com asked Saks Global what plans it has in store for the 100-plus-year-old building on Main Street. The company did not respond by publication.
Other social media users also took to Facebook to express their thoughts, some directing their frustrations at Saks, while others disagreed with the city for ever getting involved at all.
One well-known Dallasite who previously worked as sales director for Neiman Marcus in the 1990s shared his perspective, framing the pending closure as a reasonable business decision on Saks Global’s part.
“[T]he downtown store has been a money loser for a very, very long time, but it was sort of propped up because the [Neiman] executives office [was] above the downtown store,” wrote Rawlins Gilliland. “Since Neiman Marcus isn’t even Dallas-based anymore, the chances of the downtown store remaining open were zilch with new owners.”
“So whether we like it or not, NorthPark is the flagship store in the 21st century. The rest is understandable nostalgia for a luxury retail flagship location that sadly became a museum with a restaurant,” he added.
