The department store is canceling an annual show that has long drawn tourists to its flagship store in New York City.

One of the most recognizable holiday-time spectacles is no more: Saks just announced that its legendary light show on the building's facade at 611 Fifth Avenue has been canceled indefinitely. The timing of the decision is pretty interesting as well: the company celebrates its centennial this year.

Last year, Saks teamed up with Dior to host its light show spectacular at 611 Fifth Ave. Actress Jennifer Lawrence, a longtime ambassador for the LVMH-owned brand, even made a special appearance at the premiere to kick off the wintertime tradition, which has been held annually since 2004.

The holiday light show, which draws thousands of viewers to Saks Fifth Avenue, has been canceled to cut costs in a "challenging year" for luxury stores.

After nearly two decades of enchanting holiday shoppers with its elaborate light displays, Saks Fifth Avenue suddenly canceled this year’s installation, an about-face from statements made less than a month ago.

If you were looking forward to Saks Fifth Avenue’s spectacular light show, you might want to adjust your expectations. The famed event will not take place this year. The reason for this decision? A spokesperson shared with local news outlets that the cancellation is associated with “changes in its approach to the holiday windows” to