Jump to content

Saks Off 5th

From Wikipedia, the free encyclopedia
Saks OFF 5TH
FormerlySaks Fifth Avenue Off 5th (1990–2020)
Company typeSubsidiary
IndustryRetail
Founded1990; 34 years ago (1990)
Headquarters
New York City, New York
,
United States
Number of locations
100 (2023)
Area served
  • United States
  • Canada
Parent
Websitesaksoff5th.com

Saks OFF 5TH, formerly Saks Fifth Avenue Off 5th, is an American off-price department store chain founded in 1990, and a sister brand to the luxury department store chain Saks Fifth Avenue. Both chains were owned by holding company Saks, Inc. until its acquisition by the Canadian-founded Hudson's Bay Company in 2013. Saks Off 5th grew throughout the United States before expanding into Canada in 2016. It competes with off-price department stores including Burlington, Macy's Backstage, Nordstrom Rack, Ross Dress for Less, and the TJX Companies.[citation needed]

As of October 24, 2023, Saks Off 5th operates 98 off-price department stores across 22 U.S. states: Arizona, California, Connecticut, Florida, Georgia, Hawaii, Illinois, Massachusetts, Maryland, Michigan, Minnesota, North Carolina, New Hampshire, New Jersey, Nevada, New York, Ohio, Oregon, Pennsylvania, South Carolina, Texas, and Virginia; Washington, D.C.; and 4 Canadian provinces: Alberta, British Columbia, Manitoba, and Ontario.[1]

History

[edit]

Saks Fifth Avenue opened the first Off 5th location in 1990 and originally opened a clearance store. Until 2013, Saks Fifth Avenue owned the chain until both Saks Off 5th and Saks Fifth Avenue were purchased by Hudson's Bay Company (HBC), along with HBC's namesake Canadian department stores.[2][3]

Saks Off 5th expanded to Germany and the Netherlands in 2017 with one store in Germany and two in the Netherlands at launch.[4][5] However the stores in both countries (eight in Germany and two in the Netherlands) were closed in 2019 alongside Hudson's Bay leaving the Netherlands.[6][7]

In February 2020, HBC announced that former Nordstrom Rack executive Paige Thomas was the new president of Saks Off 5th.[2][3]

Brand identity

[edit]
  • Logo used from 2007–2020
    Logo used from 2007–2020
  • Logo used from 2020–2022
    Logo used from 2020–2022
[edit]

References

[edit]
  1. ^ ""Locations", Saks Off 5TH website, accessed October 24, 2023". Archived from the original on December 16, 2023. Retrieved October 24, 2023.
  2. ^ a b Howland, Daphne (February 11, 2020). "Nordstrom Rack vet to lead Saks Off 5th". Retail Dive. Archived from the original on September 29, 2020. Retrieved July 29, 2020. Saks opened Off 5th in 1990 as a merchandise clearinghouse, but has also expanded since then…HBC's three distinct retail businesses,
  3. ^ a b Wilson, Marianne (February 22, 2019). "Up to 20 Saks Off 5th stores to close". Chain Store Age. Archived from the original on November 11, 2020. Retrieved July 29, 2020.
  4. ^ Lipton, Brian (2017-05-16). "SAKS OFF 5TH TO OPEN TWO BRANCHES IN THE NETHERLANDS". MR Magazine. Archived from the original on 2023-06-20. Retrieved 2023-06-20.
  5. ^ "Sneak Peek: Saks Off 5th first store in the Netherlands". FashionUnited. 2017-09-07. Archived from the original on 2023-06-20. Retrieved 2023-06-20.
  6. ^ WW, FashionNetwork com. "Saks Off 5th to exit German market". FashionNetwork.com. Archived from the original on 2023-06-20. Retrieved 2023-06-20.
  7. ^ "Saks Off 5th closes all European stores". RetailDetail EU. 2019-04-17. Archived from the original on 2023-06-20. Retrieved 2023-06-20.
[edit]
Stub icon

This United States retail business article is a stub. You can help Wikipedia by expanding it.

Retrieved from "https://en.wikipedia.org/w/index.php?title=Saks_Off_5th&oldid=1232124757"