Flagship store in Midtown Manhattan (2019)
|Headquarters||611 Fifth Avenue, |
Number of locations
|Marc Metrick (president, 2015)|
Saks Fifth Avenue, originally A. Saks & Co., is an American chain of luxury department stores, with its origins in Andrew Saks' A. Saks & Co. store opened in Washington, D.C.'s F Street shopping district in 1867. Saks' flagship store is located on Fifth Avenue in Midtown Manhattan, New York City.The 1924 New York store on Fifth Avenue lent its street name to the chain which would be known by what was originally the moniker of its flagship store, Saks Fifth Avenue.
Since 2013, Saks Fifth Avenue has been owned by the Hudson's Bay Company (HBC), along with HBC's namesake Canadian department stores. Spinoff Saks Off 5th, originally a clearance store for Saks Fifth Avenue, is now a large off-price retailer in its own right managed independently from Saks Fifth Avenue under HBC.
Andrew Saks was born to a German Jewish family, in Baltimore. He worked as a peddler and paper boy before moving to Washington, D.C. where at the age of only 20, and in the still-chaotic and tough economic times of 1867, only two years after the United States prevailed in the American Civil War, he established a men's clothing store [ citation needed ] Saks was also known for its "forceful and interesting, but strictly truthful" newspaper advertising, according to the Washington Evening Star , including a two-page spread, large for that time, in that newspaper on April 4, 1898. Saks annexed the store next door, and in 1887 started building a large new store on the site of the old Avenue Hotel Building at 7th and Market Space (now United States Navy Memorial Plaza).with his brother Isadore A. Saks & Co. occupied a storefront in the Avenue House Hotel building at 517 (300-308) 7th Street, N.W., in what is still Washington's downtown shopping district. Saks offered his goods at one price only, no bargaining, and offered refunds on merchandise returns, neither of which were the more common practice at that place and time.
In 1896 Saks opened a branch store in Indianapolis in Ingall's Block, which was a success. then they expanded to Norfolk, Virginia, and by 1897 had six stores: Washington, D.C., Richmond, Virginia, Norfolk, Virginia, Indianapolis, and two stores as well as a clothing factory in New York City. Saks called itself "Washington's Wonderful Store".
Saks opened a very large store in 1902 in New York City's Herald Square on 34th Street and Broadway. 2 Andrew Saks ran the New York store as a family affair with his brother Isadore, and his sons Horace and William.[ citation needed ] Andrew Saks died in 1912 and his son Horace took over the company's management. :2:
In 1923 Saks & Co. merged with Gimbel Brothers, Inc., which was owned by a cousin of Horace Saks, 4–5Bernard Gimbel, operating as a separate autonomous subsidiary. On September 15, 1924, Horace Saks and Bernard Gimbel opened in the Saks Fifth Avenue Building in New York City, with a full-block avenue frontage south of St. Patrick's Cathedral, facing what would become Rockefeller Center. The architects were Starrett & van Vleck, who developed a design derived from classical architecture. :
When Bernard's brother, Adam Gimbel, became president of Saks Fifth Avenue in 1926 after Horace Saks's sudden passing, the company expanded, opening seasonal resort branches in Palm Beach, Florida, and Southampton, New York, in 1928. The first full-line year-round Saks store opened in Chicago, in 1929, followed by another resort store in Miami Beach, Florida. In 1938, Saks expanded to the West Coast, opening in Beverly Hills, California. By the end of the 1930s, Saks Fifth Avenue had a total of 10 stores, including resort locations such as Sun Valley, Idaho, Mount Stowe, and Newport, Rhode Island. More full-line stores followed with Detroit, Michigan, in 1940 and Pittsburgh, Pennsylvania, in 1949. In Downtown Pittsburgh, the company moved to its own freestanding location approximately one block from its former home on the fourth floor in the downtown Gimbel's flagship. The San Francisco location opened in 1952, competing locally with I. Magnin.BATUS Inc. acquired Gimbel Bros., Inc. and its Saks Fifth Avenue subsidiary in 1973 as part of its diversification strategy. More expansion followed from the 1960s through the 1990s including the Midwest, and the South, particularly in Texas. In 1990, BATUS sold Saks to Investcorp S.A., which took Saks public in 1996 as Saks Holdings, Inc.
In 1990, the company launched "Saks Off 5th", an outlet store offshoot of the main brand, with 107 stores worldwide by 2016.
In 1998, Proffitt's, Inc. the parent company of Proffitt's and other department stores, acquired Saks Holdings Inc. Upon completing the acquisition, Proffitt's, Inc. changed its name to Saks, Inc.
Since 2000 Saks has opened international locations in Saudi Arabia, United Arab Emirates, Bahrain, Kazakhstan, Canada, and Mexico City.
In August 2007, the United States Postal Service began an experimental program selling the plus zip code extension to businesses. The first company to do so was Saks Fifth Avenue, which received the zip code of 10022-7463 ("SHOE") for the eighth-floor shoe department in its flagship Fifth Avenue store.
During the 2007–2009 recession, Saks Fifth Avenue had to close some stores and to cut prices and profit margins, thus according to Reuters "training shoppers to expect discounts. It took three years before it could start selling at closer to full price".In the following years, the company closed stores in locations including Orange County (2010), Denver (2011), Pittsburgh (2012), Highland Park, Illinois (2012/13) and in June 2013 its last Dallas store to implement the "strategy of employing our resources in our most productive locations".
As of 2013, the New York flagship store, whose real estate value was estimated between $800 million and over $1 billion at the time, generated around 20% of Saks' annual sales at $620 million, with other stores being less profitable according to analysts.
On July 29, 2013, the Hudson's Bay Company (HBC), the oldest commercial corporation in North America and owner of the competing chain Lord & Taylor, announced it would acquire Saks Fifth Avenue's parent company for US$2.9 billion. 150,000 sq ft (14,000 m2) in its flagship Queen Street building in downtown Toronto, connected to the Toronto Eaton Centre via sky bridge. The store opened in February 2016 with a second Toronto area location in the Sherway Gardens shopping center opening in spring 2016. On February 22, 2018, Saks Fifth Avenue opened its third Canadian store in Calgary, Alberta.Plans called for up to seven Saks Fifth Avenues to open in major Canadian markets. In January 2014, HBC announced the first Saks store in Canada would occupy
In 2015 Saks began a $250 million, three-year restoration of its Fifth Avenue flagship store.In October 2015, Saks announced a new location in Greenwich, Connecticut. In autumn 2015, Saks announced it would replace its existing store at the Houston Galleria with a new store.
In 2005, vendors filed against Saks alleging unlawful chargebacks. The U.S. Securities and Exchange Commission (SEC) investigated the complaint for years and, according to the New York Times, "exposed a tangle of illicit tactics that let Saks... keep money it owed to clothing makers", inflating Saks' yearly earnings up to 43% and abusively collecting around $30 million from suppliers over seven years.Saks settled with the SEC in 2007, after firing three or more executives involved in the fraudulent activities.
In 2014, Saks fired transgender employee Leyth Jamal after she was allegedly "belittled by coworkers, forced to use the men's room and repeatedly referred to by male pronouns (he and him)".After Jamal submitted a lawsuit for unfair dismissal, the company stated in a motion to dismiss that "it is well settled that transsexuals are not protected by Title VII of the Civil Rights Act of 1964." In a court filing, the United States Department of Justice rebuked Saks' argument, stating that "discrimination against an individual based on gender identity is discrimination because of sex." The Human Rights Campaign removed the company from its list of "allies" during the controversy. The lawsuit was later settled amicably, with undisclosed terms.
In 2017, following the events of Hurricane Maria in Puerto Rico, Saks's San Juan store located in Mall of San Juan suffered major damages along with its neighboring anchor store Nordstrom. Taubman Centers, the company which owns the mall, filed a lawsuit against Saks for failing to provide an estimated reopening date and failing to restore damages after the hurricane due to a binding contract. [ citation needed ]Although Nordstrom reopened on November 9, 2018, on October 30, 2018, Saks Fifth Avenue announced that it would officially vacate The Mall Of San Juan.
Saks-34th Street was a fashion-focused middle market department store that was spun off from Saks & Company when that upscale retailer moved to Fifth Avenue, a location that Saks Fifth Avenue maintains to this day. As of 2016 [update] the primary tenant is H&M.Saks-34th Street became a part of the New York division of Gimbels (later Manhattan Mall), and a sky bridge across 33rd Street connected the second floors of both flagship buildings. In the 1947 movie Miracle on 34th Street the facade of Saks-34th Street is shown in a scene that focuses on the Gimbel's flagship store. Branch locations were opened around the greater New York area. After Gimbels decided to close the division, the first floor of the building was used as a Christmas season annex for Gimbel's before being sold to the E. J. Korvettes chain. After the demise of the Korvette's chain the building was remodeled into the Herald Center.
Saks Fifth Avenue at 9600 Wilshire Boulevard is a department store in Beverly Hills, California. It is part of the Saks Fifth Avenue company. It was designed by the architectural firm Parkinson and Parkinson, with interiors by Paul R. Williams. 74,000 square feet (6,900 m2) and employ 500 people.The store opened in 1938. The exterior of the building was designed by the Parkinsons, with the interior completed by Williams in the Hollywood Regency style. David Gebhard and Robert Winter, writing in Los Angeles: An Architectural Guide described the building as having "enough curved surface to suggest that the thirties Streamline Moderne could be elegant". The store was expanded and redesigned by Williams in 1940 and 1948. The store was immediately successful upon opening and it would subsequently expand to almost
Williams's designs for the store marked a departure from traditional department stores by reducing the emphasis on commerciality that foresaw the rise of boutique stores in the 1980s and 1990s. Only a few examples of merchandise were displayed in hidden recesses. The President of Saks Fifth Avenue, Adam Gimbel, said in an interview with the Los Angeles Times that "Each room attempts to create a mood which is in keeping with the merchandise sold there. For example, a Pompeian room done in cool green with appropriate frieze is used for beach and swimming pool costumes and a French provincial room houses informal sports and country clothes The accessories are carried in an oval room done in a Regency spirit".The individual shipping areas of the store were semi-enclosed which prevented distraction for customers. Williams created an interior reminiscences of his designs for luxurious private residences, with rooms lit by indirect lamps and footlights focused on the clothes. New departments for furs, corsets, gifts and debutante dresses were added in the 1940 expansion. The Terrace Restaurant, a rooftop restaurant run by Perino's, served customers for several years. It was expanded in the 1940s renovations to provide cover during inclement weather.
The store featured in the 2005 film Shopgirl . The story had originally been set in Neiman Marcus but Saks Fifth Avenue lobbied the film makers to portray their store instead.
Hudson's Bay, formerly and still colloquially The Bay, is a Canadian department store chain. It is the main brand of the Hudson's Bay Company (HBC), the oldest company in North America.
The Galleria, stylized theGalleria and also known as the Houston Galleria, is an upscale mixed-use urban development and shopping mall located in the Uptown District of Houston, Texas, United States. The development consists of a retail complex, as well as the Galleria Office Towers complex, two Westin hotels, and a private health club. The office towers and hotels are separately owned and managed from the shopping center.
Parisian Inc. was an American chain of department stores founded and headquartered in Birmingham, Alabama. Competing mainly in the established Southeastern US market through the 1980s against Nordstrom, Neiman Marcus and Gus Mayer, Parisian underwent a series of restructurings and mergers during its 130-year history, and was taken over by Proffit's, Inc. in 1996. In September 2006, Belk purchased the Parisian department store properties from Saks for $285 million, although that sale did not include the Parisian nameplate. Five Parisian store locations in Michigan, Indiana and Ohio were instead sold to Bon-Ton, and closed nine additional stores nationwide. The remaining twenty-four locations were rebranded as Belk in September 2007, except for the three Michigan stores, which continued to operate as Parisian until rebranding as Carson's in 2013, later to close in 2018.
Stern's was a regional department store chain serving the U.S. states of New York, Pennsylvania, and New Jersey. The chain was in business for more than 130 years.
Bloomingdale's Inc. is an American luxury department store chain; it was founded by Joseph B. and Lyman G. Bloomingdale in 1861. It became a division of the Cincinnati-based "Federated Department Stores" in 1930. In 1994 the Macy's department store chain joined the "Federated Department Stores" holding company. In 2007, "Federated Department Stores" was renamed Macy's, Inc. As of August 1, 2020, there are 54 stores, including 34 department stores, 1 furniture/other store and 19 outlet stores with the Bloomingdale's nameplate in operation throughout the United States. Its headquarters and flagship store are located at 59th Street and Lexington Avenue in the New York City borough of Manhattan.
Younkers Inc. is an American online retailer and former department store chain founded as a family-run dry goods business in 1856 in Keokuk, Iowa. The retailer had evolved over more than 150 years to include a presence in locations throughout Iowa and bordering states in the Midwest region of the United States. It is pronounced yong-kers. Younkers became influential as it acquired several rivals throughout the 20th century both inside and outside of Iowa. The chain itself was sold by the late 1990s, with ownership transferring out of state, and its Des Moines-based headquarters closed by 2003 as a part of a corporate consolidation. Following its last sale in 2006, Younkers operated as a subsidiary of The Bon-Ton, with locations in seven Midwestern states, primarily in shopping malls. As of 2013 the chain operated more than fifty locations in the region. On August 29, 2018, the last 17 remaining Younkers outlets were all shut down.
Saks, Inc., originally Proffitt's Inc. until 1998, was a Fortune 1000 operator of high-end department stores in the United States under the nameplate Saks Fifth Avenue. It was founded in Birmingham, Alabama. Hudson's Bay Company acquired Saks in November 2013.
Lord & Taylor is a soon-to-be defunct American department store chain, and the oldest department store in the United States. As of August 2019, it had 38 stores and one outlet store. The flagship store at the Lord & Taylor Building on Fifth Avenue in New York City operated from 1914 until 2019. The chain has been a subsidiary of Le Tote since November 2019. Lord & Taylor along with parent company, Le Tote filed for Chapter 11 bankruptcy protection on August 2, 2020, and on August 27, 2020, it was announced that Lord & Taylor would be liquidated.
Gimbel Brothers was an American department store corporation that operated for a century, from 1887 until 1987. Gimbel patriarch Adam Gimbel opened his first store in Vincennes, Indiana, in 1842. In 1887, the company moved its operations to the Gimbel Brothers Department Store in Milwaukee, Wisconsin. It became a chain when it opened a second, larger store in Philadelphia, Pennsylvania in 1894, moving its headquarters there. At the urging of future company president Bernard Gimbel, grandson of the founder, the company expanded to New York City in 1910.
Kaufmann's was a department store that originated in Pittsburgh, Pennsylvania.
Belk, Inc., is an American department store chain founded in 1888 by William Henry Belk in Monroe, North Carolina, with nearly 300 locations in 16 states. Belk stores and Belk.com offer apparel, shoes, accessories, cosmetics, home furnishings and wedding registry.
Proffitt's was a department store chain based in Alcoa, Tennessee. On March 8, 2006, the Proffitt's and McRae's stores were converted into Belk stores. Belk acquired the two chains in July 2005 from Saks, Inc.
McRae's was a mid-range regional department store chain founded and based in Jackson, Mississippi, with locations in Mississippi, Alabama, Louisiana, and Florida. The nameplate was in existence for more than a century.
Hudson's Bay Centre is an office and retail complex in Toronto, Ontario, Canada. It is located in Downtown Toronto at the intersection of Yonge Street and Bloor Street at the east end of the Mink Mile. Brookfield Properties owns and operates the centre. The centre is composed of a 35-storey office tower, a Hudson's Bay department store and a retail concourse.
P.A. Bergner & Co. is an online retailer operated by Bon-Ton holdings and was an upscale midwestern department store established in 1889. The flagship store was located in Peoria, Illinois at The Shoppes at Grande Prairie.
British American Tobacco US, mostly known for its acronym BATUS, was the US subsidiary of multinational company British American Tobacco (BAT), the world's second largest cigarette manufacturer. BATUS served as the U.S. holding company for BAT. In the 1960s, the company followed the conglomerate fad, diversifying into areas such as insurance, drink and the apparently booming world of retail.
L. L. Berger was a high-end Department Store based in Buffalo, New York. The family owned store was started by Louis L. Berger in 1905, at 500 Main Street. The company grew through the next two decades and opened its flagship store at 514 Main Street on February 4, 1929. The first suburban branch opened in 1953, at Thruway Plaza in Cheektowaga, New York, followed in 1960, with a location at Sheridan Plaza, in Tonawanda (Town), New York. At the death of its founder in 1967, the L. L. Berger company was "compared in fashion retailing to Saks Fifth Avenue and Lord and Taylor in New York, I. Magnin in San Francisco, and Neiman Marcus in Dallas." Expansion continued with stores opening in 1969, at the Seneca Mall, in West Seneca, New York and 1970, at the Northtown Plaza in Amherst, New York. Additional stores opened in 1975, at the Lockport Mall, in Lockport, New York; in 1982 at the Transitown Plaza in Clarence, New York; in 1988 at the McKinley Mall, in Hamburg, New York; and in 1989 at the Walden Galleria in Cheektowaga, New York. A second Buffalo location opened at 510 Elmwood Avenue in the early 1980s. The company filed Chapter 11 bankruptcy in 1991. In the early 2000s the flagship store was renovated to be upscale apartments and commercial space.
Hudson's Bay Queen Street is a building complex on the southwest corner of Yonge Street and Queen Street West in Downtown Toronto. It operated as the flagship store of the Simpsons department store chain from 1895–1991. The building became the area flagship store of its successor The Bay in 1991, and was retrofitted to house the first Saks Fifth Avenue in Canada in 2016. It is also the headquarters of the Hudson's Bay Company, which owns both chains.
Andrew Saks was an American businessman known as the founder of Saks Fifth Avenue.
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 opened Off 5th in 1990 as a merchandise clearinghouse, but has also expanded since then…HBC’s three distinct retail businesses,
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