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American off-price department store chain From Wikipedia, the free encyclopedia
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.[citation needed]
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 The exterior of the Saks OFF 5TH store in Clarksburg, Maryland, pictured in 2020 | |
| Formerly | Saks Fifth Avenue Off 5th (1990–2020) |
|---|---|
| Company type | Subsidiary |
| Industry | Retail |
| Founded | 1990 |
| Headquarters | , United States |
Number of locations | 100 (2023) |
Area served |
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| Parent |
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| Website | saksoff5th |
As of October 24, 2023[update], 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]
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.[2][3]
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