Saks’ discount brand, Saks Off Fifth, is pulling out of the Bronx after opening its first store there two years ago.

The 25,000-square-foot store at the Bay Plaza Shopping Center will close on Oct. 31, according to a public filing. The store employs 31 staffers.

The luxury discount chain’s parent company, Toronto-based Hudson’s Bay Co., has said it will close up to 20 of its 133 stores this year as part of a larger initiative to “focus on businesses with the strongest growth opportunities.”

Closures have hit Lord & Taylor stores, including HBC’s massive Fifth Avenue flagship in Midtown Manhattan, which shuttered right after the holiday season.

An additional four Saks Off Fifth stores — that are not part of the 20 — have closed so far this year.

“These decisions are never easy, but they are the right ones for the company,” HBC said in a statement to The Post. “This location is one of up to 20 anticipated closures.”

By contrast, HBC is investing in its Saks Fifth Avenue flagship store, which is undergoing a multiyear, $250 million renovation. It’s across from Rockefeller Center.

The remodeling of the Midtown Manhattan store, which opened in 1924, has already brought a destination eatery called L’Avenue, a new men’s shoe department, and a new beauty department on the second floor.