Saks Off 5th

Saks Off 5th is a chain of around 100 off-price department stores, originally launched in 1990 as clearance stores for upscale department store Saks Fifth Avenue. It is now a division of Hudson's Bay Company in its own right, as is Saks Fifth Avenue. It competes with other off-price department stores such as Nordstrom Rack, as well as with traditional department stores.[1][2]

Saks Off 5th at Tsawwassen Mills in Delta, British Columbia
Saks Off 5th, Clarksburg, Maryland, August 2020
Saks Off 5th, Clarksburg, Maryland, August 2020

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]

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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