Saks Fifth Avenue is consolidating its presence in Greenwich, Conn., from three stores down to one, but stressed that it is not abandoning the market.

“ Saks Global has made the strategic decision to consolidate our Saks Fifth Avenue Greenwich presence to create a more cohesive shopping experience for our Greenwich customers,” Saks confirmed to WWD in a statement Tuesday, confirming growing buzz in the market. “This planned consolidation, unrelated to the company’s Chapter 11 process, is intended to centralize our Greenwich offering under one roof, enabling us to deliver a more streamlined and convenient shopping experience. We remain committed to serving the Greenwich community through our main Saks Fifth Avenue store location.”

The stand-alone Saks men’s store on Greenwich Avenue will close Saturday.…