Saks Global will scale back most of its off-price operations to focus on luxury retail and full-price selling across its portfolio.

The company said the move follows a thorough review of its discount retail business, resulting in the closure of most Saks Off 5th and Last Call locations.

Select Saks Off 5th stores will remain open to sell residual inventory from Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman.

In addition, the Saks Off 5th e-commerce site, saksoff5th.com – a separate legal entity from Saks Global  – will begin winding down.

Geoffroy van Raemdonck, CEO of Saks Global, said the company is taking ‘decisive steps’ to realign its business.

“With these actions, we will be well-positioned to seize the greatest opportunities for long-term growth and value creation.

Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman stores and e-commerce operations will continue to operate as usual. 

• Furhter reading: Saks Global files for Chapter 11, raises cash, names new CEO