Saks Off 5th explained

Saks OFF 5TH
Former Name:	Saks Fifth Avenue Off 5th (1990 - 2020)
Type:	Subsidiary
Industry:	Retail
Hq Location City:	New York City, New York
Hq Location Country:	United States
Num Locations:	100 (2023)

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.

, 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

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.

Notes and References

1. Web site: "Locations", Saks Off 5TH website, accessed October 24, 2023 . October 24, 2023 . December 16, 2023 . https://web.archive.org/web/20231216064419/https://locations.saksoff5th.com/locations/en/search . live .
2. News: Howland . Daphne . Nordstrom Rack vet to lead Saks Off 5th . Retail Dive . February 11, 2020 . Saks opened Off 5th in 1990 as a merchandise clearinghouse, but has also expanded since then…HBC’s three distinct retail businesses, . July 29, 2020 . September 29, 2020 . https://web.archive.org/web/20200929114035/https://www.retaildive.com/news/nordstrom-rack-vet-to-lead-saks-off-5th/572084/ . live .
3. News: Wilson . Marianne . Up to 20 Saks Off 5th stores to close . Chain Store Age . February 22, 2019 . July 29, 2020 . November 11, 2020 . https://web.archive.org/web/20201111234926/https://chainstoreage.com/store-spaces/up-to-20-saks-off-5th-stores-to-close . live .
4. Web site: Lipton . Brian . 2017-05-16 . SAKS OFF 5TH TO OPEN TWO BRANCHES IN THE NETHERLANDS . 2023-06-20 . MR Magazine . en-US . 2023-06-20 . https://web.archive.org/web/20230620123354/https://mr-mag.com/saks-off-5th-to-open-two-branches-in-the-netherlands/ . live .
5. Web site: 2017-09-07 . Sneak Peek: Saks Off 5th first store in the Netherlands . 2023-06-20 . FashionUnited . en . 2023-06-20 . https://web.archive.org/web/20230620123351/https://fashionunited.uk/news/retail/sneak-peek-saks-off-5th-first-store-in-the-netherlands/2017090725763 . live .
6. Web site: WW . FashionNetwork com . Saks Off 5th to exit German market . 2023-06-20 . FashionNetwork.com . en-WW . 2023-06-20 . https://web.archive.org/web/20230620123353/https://ww.fashionnetwork.com/news/Saks-off-5th-to-exit-german-market,1085128.html . live .
7. Web site: 2019-04-17 . Saks Off 5th closes all European stores . 2023-06-20 . RetailDetail EU . en-US . 2023-06-20 . https://web.archive.org/web/20230620123353/https://www.retaildetail.eu/news/fashion/saks-5th-closes-all-european-stores/ . live .