The Saks Fifth Avenue stores in the Pioneer Place Mall are scheduled to close, the company Saks Inc. announced today.

The downtown Portland stores on 850 S.W. 5th Ave. and 385 S.W. Yamhill St. are reaching the end of their leases. The main store, about 60,000 square feet, will close April 25. The men’s store, about 23,000 square feet, will close July 31.

“The planned closing of the Portland store is consistent with our strategy of focusing our resources on our most productive stores,” said Steve Sadove, chairman and chief executive officer of Saks.

Portland Mayor Sam Adams said in a statement that the “property owners, the Portland Development Commission and I made unprecedented outreach efforts to keep Saks in Portland.”

“But we could not overcome national trends buffeting higher end and luxury retailers and the fact that Saks’ Portland lease was up for renewal. My thoughts are with the affected employees and their families,” Adams said.

The Saks locations in Portland have about 100 employees.

Pioneer Place owner General Growth Properties has not decided what to do with the two spaces. Spokesman David Keating could not confirm reports by The Oregonian newspaper that the fast-fashion clothing company H&M will move into the men’s store space.

Keating said Pioneer Place would fill the larger space with another department store like Saks or use the space for multiple, smaller boutiques.