Saks Off 5th

Saks Off 5th (stylized as Saks OFF 5TH), formerly Saks Fifth Avenue Off 5th, is an American chain of off-price department store owned and operated by Hudson's Bay Company, founded in 1990.

Saks Off 5th
FormerlySaks Fifth Avenue Off 5th (1990–2020)
TypeSubsidiary
IndustryRetail
Founded1990 (1990)
Headquarters
New York City, New York
,
United States
Number of locations
102
Area served
  • United States
  • Canada
Parent
Websitesaksoff5th.com

Its major competitors are Nordstrom Rack and Burlington.

As of January 22, 2022, Saks Off 5th operates 102 off-price department stores across United States.

In 2019, HBC announced plans to downsize the chain in order to cut costs amid falling sales, and planned to close as many as 20 Saks Off 5th locations in the United States.[1][2] In February 2020, HBC announced that former Nordstrom Rack executive Paige Thomas was the new president of Saks Off 5th.[1][2]

History

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 Hudson's Bay Company (HBC), along with HBC's namesake Canadian department stores.

References
  1. Howland, Daphne (February 11, 2020). "Nordstrom Rack vet to lead Saks Off 5th". Retail Dive. Saks opened Off 5th in 1990 as a merchandise clearinghouse, but has also expanded since then…HBC’s three distinct retail businesses,
  2. Wilson, Marianne (February 22, 2019). "Up to 20 Saks Off 5th stores to close". Chain Store Age.


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