UPDATE 1-Saks to close Ft. Lauderdale Saks Fifth Avenue store

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May 12 (Reuters) - Upscale retailer Saks Inc (SKS.N: Quote, Profile, Research) said it plans to close its Saks Fifth Avenue store in the Galleria Mall in Ft. Lauderdale, Florida, which employs about 60 associates.

Saks said the store is expected to close on July 20 and the location is leased.

All affected associates either will be offered transfer opportunities or will receive appropriate severance packages, said the company, which operates 10 other Saks Fifth Avenue stores in Florida. (Reporting by Dilipp S. Nag in Bangalore; Editing by Jarshad Kakkrakandy)