Saks OFF 5TH news and archive

Saks parent company acquires Neiman Marcus, Amazon to be investor

In what has been a long-winded back-and-forth that has spanned multiple years, it is now believed that department store powerhouses Saks Fifth Avenue and Neiman Marcus Group are finally set to merge. According to multiple media reports, Saks parent company Hudson’s Bay Co. (HBC) has secured an agreement to purchase Neiman Marcus Group for a...

Retail

Vision Express to come to Saks Off 5th

Opticians and eyewear retailer Vision Express is set to be introduced to a select number of Saks Off 5th stores over the next few months in what also comes as an expansion to the luxury chain’s offering. Several of Saks Off 5th stores are expected to add a Vision Express space, including its locations in Westbury, Elizabeth, Bridgewater, West...

Retail

Saks Off 5th launches shopping app

Saks Off 5th has launched a shopping app to help with their digital growth. Last year, the company converted their web platform to Salesforce, a cloud-based software company that provides tools to help build apps and websites. Before the pandemic, digital sales were 30 percent of Saks Off 5th’s revenue, which totaled 1 billion dollars in 2019....

Retail

Klarna and Saks OFF 5TH announce new payment plan partnership

Saks OFF 5TH and Klarna have joined forces to offer customers of the luxury-value retailer access to buy now, pay later solutions at checkout. U.S. shoppers visiting the Saks OFF 5TH e-commerce site can opt to split their purchase into four interest-free payments through Klarna, increasing their convenience and spending power. This partnership...

Fashion

Saks Off 5th partners with Food Bank for New York City

Saks Off 5th is launching a give back campaign to support those in need in New York City. Starting May 6, the off-price retailer is offering a curated social media shop called "Shop for Good." Twenty percent of net proceeds from this shop, as well as from gift card sales will benefit the Food Bank For New York City. The Food Bank For New York...

People

Saks OFF 5th appoints ex Nordstrom Paige Thomas as president

New York – HBC (TSX: HBC) announced Monday they have appointed Paige Thomas as President of Saks Off 5TH, effective immediately. “Paige has a proven track record of achieving aggressive growth within off-price retail through superior cross-channel customer experiences,” said in the corporate announcement Helena Foulkes, CEO at HBC, owner of Saks...

BusinessFeatured

Q3 net loss widens at Hudson’s Bay Company, same-store sales drop

Hudson’s Bay Company’s (HBC) third quarter comparable sales declined 1.7 percent. Third quarter revenues totalled 1.8 billion Canadian dollars, including 55 million Canadian dollars from liquidating stores at Saks Off 5th, Hudson’s Bay clearance centers, and HBC Netherlands. Digital sales increased 15 percent year-over year due to continued...

Business

Hudson's Bay Company's Q2 net loss widens

Hudson’s Bay Company’s (HBC) second quarter revenues totalled 1.9 billion Canadian dollars (1.4 billion dollars), including a 19 percent increase in digital sales, while comparable sales decreased 0.4 percent. The company said, gross margin declined 530 basis points year-over-year to 34 percent due to changes in store footprint, vendor...

Retail

3 leading US executive training programs in fashion and retail

FashionUnited has found three US executive training programs in fashion and retail that may lead you on a rewarding career journey. Offered by Macy’s, Neiman Marcus and Saks Fifth Avenue (Hudson’s Bay), you can be a recent graduate from a fashion university or a professional who is considering to expand your horizons. These three leading...

Business

HBC closes Home Outfitters business in Canada, to shutter around 20 Saks Off 5th stores

Hudson’s Bay Company (HBC) has announced the closure of its Home Outfitters business in Canada and is performing a fleet review of Saks Off 5th’s 133 stores, with an estimate of closing up to 20 locations in the US. The company said, these actions are part of the company’s strategic plan to reduce costs, simplify the business and improve overall...

RetailFeatured

Sneak Peek: Saks Off 5th first store in the Netherlands

Amsterdam - Saks Off 5th, the outlet chain from iconic department store Saks 5th Avenue, is set to open its first store in Rotterdam the Netherlands today at 10 am. A second Saks Off 5th is set to open in November in the capital of Amsterdam, as the department store, owned by parent company Hudson's Bay, continues to expand across Europe....

Retail|INTERACTIVE REPORT

In Pictures: Saks Off 5th Düsseldorf

Canadian company Hudson’s Bay opened its off-price concept Saks Off 5th in Germany. The debut flagship store opened today in Carsch-Haus in Düsseldorf and marks the first European store. FashionUnited was invited to take an exclusive look in the store. Are you curious to find out how the store looks like? Hover your mouse over the pictures to...