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., acquired by the Canadian Hudson's Bay Company in 2013, and spun-off into Saks Global in 2024. Saks Off 5th grew throughout the United States before expanding into Canada in 2016.
As of October24,2023[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]
History
Saks Fifth Avenue opened the first Off 5th location in 1990 and originally opened a clearance store. Both Saks Off 5th and Saks Fifth Avenue were later operated by Hudson's Bay Company (HBC), alongside 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]
On March 14, 2025, shortly after the bankruptcy and collapse of Hudson's Bay, it was announced that HBC would be liquidating and shuttering 2 of the 3 Saks Fifth Avenue locations and all 13 Saks Off 5th locations in Canada. Liquidation sales are set to begin as soon as the following week, with locations to be permanently shuttered by June 2025.[8]
On January 14, 2026, Saks Global filed for Chapter 11 bankruptcy protection after struggling with heavy debt relying on its acquisition and merger of Neiman Marcus. The company also blamed a rapid consumer shift in luxury goods due to inflating prices.[9]
On January 29, Saks Global announced the permanent closure of 57 Saks OFF 5TH and all 5 remaining Neiman Marcus Last Call locations in an effort to further focus on its luxury brands. 12 Saks OFF 5TH locations are slated to remain open, however, they will only operate to serve as a "selling channel for residual inventory for Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman." Saks Global also stated that they will stop purchasing merchandise directly for Saks OFF 5TH. Select stores will conduct liquidation sales on January 30, with gift cards to stop being accepted at affected stores before February 14.[10]
12Howland, Daphne (February 11, 2020). "Nordstrom Rack vet to lead Saks Off 5th". Retail Dive. Archived from the original on September 29, 2020. Retrieved July 29, 2020. 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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