The once red-hot off-price operations of upscale department stores have cooled considerably.

Over the past several months, Neiman Marcus has closed three of its Last Call off-price stores — and this week the Dallas chain said it would be “assessing” the Last Call portfolio “to ensure we have the right mix of brick- and-mortar and online stores.”

At Neiman rival Nordstrom, which has been aggressively doubling down on Nordstrom Rack, its off-price stores, performance has been ebbing.

While 13 of Nordstrom’s 16 new locations this year will be Nordstrom Rack, same-store sales at the off-price nameplate have slowed to 2.3 percent in the first quarter — down from a 4.6 percent rise a year earlier.

Sales per square foot at Nordstrom Rack dipped to $120 from $123 a year ago — the result, the company said, of lower-priced goods and not fewer items sold.

The flood of off-price stores into this niche appears to be forcing price cuts.

Saks Off 5th, the off-price chain of Saks Fifth Avenue, has opened seven new stores this year, with another six planned through Dec. 31.

But while expansion rolls on, same-store sales at Saks Off 5th fell 6.8 percent in the first quarter. A year earlier, same-store sales were off 4.1 percent.

The declines include same-store sales at the much-smaller Gilt.

At Neiman, the announcement that it is taking a second look at its off-price operation has some industry experts questioning whether even the one-time off-price darlings of the retail industry are losing their luster.

“The Last Call news is the first suggestion that the luxury off-price sector is maturing,” despite a rash of new store openings, said Steve Dennis, a retail consultant and former Neiman Marcus executive.

Meanwhile, Neiman Marcus’ woes are not limited to its 37 off-price stores.

The Dallas luxury retailer is also eliminating 225 jobs across all its brands and operating divisions, the company said.