01/05/2011 12:57 pm ET | Updated May 25, 2011

Saks Fifth Avenue Closing Store In Cherry Creek

Saks Incorporated announced on Wednesday that it will be closing the Saks Fifth Avenue store at the Cherry Creek Mall in Denver.

In a statement, Saks CEO Steve Sadove said that the closure of the Denver store, which has been open since 1990, was part of the company's strategy "to deploy our resources in our most productive stores and to close underperforming stores, when feasible."

Since July, 2010, the company has closed its Saks Fifth Avenue stores in Mission Viejo and San Diego, California; Southampton, New York; Portland, Oregon; Charleston, South Carolina; and Plano.

According to Saks, the Denver store currently employs about 100 people, all of whom will be offered transfer opportunities or separation packages.