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Saks Off 5th

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Saks Off 5th
FormerlySaks Fifth Avenue Off 5th (1990–2020)
Company typeSubsidiary
IndustryRetail
Founded1990; 34 years ago (1990)
Headquarters
New York City, New York
,
United States
Number of locations
102
Area served
  • United States
  • Canada
Parent
Websitesaksoff5th.com

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.[1]

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

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] In February 2020, HBC announced that former Nordstrom Rack executive Paige Thomas was the new president of Saks Off 5th.[2][3]

Brand identity

  • Logo used from 2007–2020
    Logo used from 2007–2020
  • Logo used from 2020
    Logo used from 2020

References

  1. ^ Coherent Market Insights (May 27, 2022). "Off Price Retail Market Size 2022 Global Trends, News, CAGR, Industry Demand, Business Growth, Top Key Players Update, Business Statistics, and Research Methods Forecast to 2028". Digital Journal. Retrieved May 31, 2022.
  2. ^ 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,
  3. ^ a b Wilson, Marianne (February 22, 2019). "Up to 20 Saks Off 5th stores to close". Chain Store Age.
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