Los Angeles-based retailer Fred Segal pulled its seven retail stores from the SLS Las Vegas casino, which is struggling to become profitable.
SLS owner Stockbridge said in an SEC quarterly filing it “’incurred net losses and negative operating cash flows for the six months ended June 30” and lost $83.9 million in that time, the Las Vegas Review Journal reported.
“We continue to focus our efforts on increasing the level of table game play at the property and increasing the volume of slot play,” Stockbridge said in its filing.
Casino losses translated into slow sales, so Fred Segal closed its simply named stores He, which featured men’s clothing, She, featuring women’s clothing, Jeans, which sold denim items, bedroom-apparel store Play, a novelty store named Goods, and self-explanatory stores Jewels and Shoes.
Other recent closures at the casino include its buffet and a café that was replaced by an all-hours coffee shop.
SLS opened three of its own retail stores named Her, Goods, and Etc., to replace some of those Fred Segal just closed.
The SLS opened in August 2014 after Stockbridge completed a $415 million renovation of the former Sahara, which shut its doors in 2011.
