Saks Off 5th
Formerly | Saks Fifth Avenue Off 5th (1990–2020) |
---|---|
Type | Subsidiary |
Industry | Retail |
Founded | 1990 |
Headquarters | , United States |
Number of locations | 102 |
Area served |
|
Parent |
|
Website | saksoff5th |
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.
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.
Gallery[]
Logo used from 2007–2020
Saks Off 5th at Tsawwassen Mills in Delta, British Columbia
Saks Off 5th, Clarksburg, Maryland, August 2020
References[]
- ^ a b 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,
- ^ a b Wilson, Marianne (February 22, 2019). "Up to 20 Saks Off 5th stores to close". Chain Store Age.
External links[]
- American companies established in 1990
- Department stores of Canada
- Discount stores of Canada
- Discount stores of the United States
- Hudson's Bay Company
- Retail companies established in 1990
- Saks Fifth Avenue
- United States retail company stubs