Saks Off 5th

Saks Off 5th, formerly Saks Fifth Avenue Off 5th, is an American off-price department store chain founded in 1990, and a subsidiary of the luxury department store chain Saks Fifth Avenue. Since 2013, both Saks Off 5th and Saks Fifth Avenue have been owned by the Hudson's Bay Company (HBC), along with HBC's namesake Canadian department stores. It is comparable to other off-price stores including Nordstrom Rack, and traditional department stores.

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

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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