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]
Saks OFF 5TH
The exterior of the Saks OFF 5TH store in Clarksburg, Maryland, pictured in 2020
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]
^""Locations", Saks Off 5TH website, accessed October 24, 2023". from the original on December 16, 2023. Retrieved October 24, 2023.
^ abHowland, Daphne (February 11, 2020). "Nordstrom Rack vet to lead Saks Off 5th". Retail Dive. 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,
^ abWilson, Marianne (February 22, 2019). "Up to 20 Saks Off 5th stores to close". Chain Store Age. from the original on November 11, 2020. Retrieved July 29, 2020.
^Lipton, Brian (2017-05-16). "SAKS OFF 5TH TO OPEN TWO BRANCHES IN THE NETHERLANDS". MR Magazine. from the original on 2023-06-20. Retrieved 2023-06-20.
^"Sneak Peek: Saks Off 5th first store in the Netherlands". FashionUnited. 2017-09-07. from the original on 2023-06-20. Retrieved 2023-06-20.
^WW, FashionNetwork com. "Saks Off 5th to exit German market". FashionNetwork.com. from the original on 2023-06-20. Retrieved 2023-06-20.
^"Saks Off 5th closes all European stores". RetailDetail EU. 2019-04-17. from the original on 2023-06-20. Retrieved 2023-06-20.
External linksedit
Official website
This United States retail business article is a stub. You can help Wikipedia by expanding it.
saks, saks, formerly, saks, fifth, avenue, american, price, department, store, chain, founded, 1990, sister, brand, luxury, department, store, chain, saks, fifth, avenue, both, chains, were, owned, holding, company, saks, until, acquisition, canadian, founded,. 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 Saks OFF 5THThe exterior of the Saks OFF 5TH store in Clarksburg Maryland pictured in 2020FormerlySaks Fifth Avenue Off 5th 1990 2020 Company typeSubsidiaryIndustryRetailFounded1990 34 years ago 1990 HeadquartersNew York City New York United StatesNumber of locations100 2023 Area servedUnited States CanadaParentSaks Inc 1990 2013 Hudson s Bay Company 2013 present Websitesaksoff5th wbr com As of October 24 2023 update Saks Off 5th operates 98 off price department stores across 22 U S states AZ CA CT FL GA HI IL MA MD MI MN NC NH NJ NV NY OH OR PA SC TX and VA Washington D C and 4 Canadian provinces Alberta British Columbia Manitoba and Ontario 1 Contents 1 History 2 Brand identity 3 Gallery 4 References 5 External linksHistory editSaks 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 nbsp Logo used from 2007 2020 nbsp Logo used from 2020 2022Gallery edit nbsp Saks Off 5th at Tsawwassen Mills in Delta British Columbia nbsp Saks Off 5th Clarksburg Maryland August 2020References edit Locations Saks Off 5TH website accessed October 24 2023 Archived from the original on December 16 2023 Retrieved October 24 2023 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 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 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 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 WW FashionNetwork com Saks Off 5th to exit German market FashionNetwork com Archived from the original on 2023 06 20 Retrieved 2023 06 20 Saks Off 5th closes all European stores RetailDetail EU 2019 04 17 Archived from the original on 2023 06 20 Retrieved 2023 06 20 External links editOfficial website nbsp This United States retail business article is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Saks Off 5th amp oldid 1217886233, wikipedia, wiki, book, books, library,
