Content about Saks

November 24, 2014

With the value of its flagship store on New York City’s Fifth Avenue appraised at an astonishing $3.7 billion, Saks parent Hudson’s Bay Co. has taken out a $1.25 billion loan to pay down debt and finance a $250 million renovation in 2015.

With the value of its flagship store on New York City’s Fifth Avenue appraised at an astonishing $3.7 billion, Saks parent Hudson’s Bay Co. has taken out a $1.25 billion loan to pay down debt and finance a $250 million renovation in 2015.

November 19, 2014

Some of the biggest names in the retail industry have partnered with a new online shopping and fundraising platform called iMyne, which aims to make it easy for consumers to earn money and give to their favorite causes after shopping online. 

Some of the biggest names in the retail industry have partnered with a new online shopping and fundraising platform called iMyne, which aims to make it easy for consumers to earn money and give to their favorite causes after shopping online.

Like other rewards sites, imyne.com gives shoppers the option of earning cash back. But it also allows them to send their cash back to charitable causes. Top retailers such as Nordstrom, Neiman Marcus, Target, Sears, Home Depot, Gap, Best Buy, Saks, Zappos and more have all signed up as retail partners.

November 3, 2014

Enchanted holidays are ahead for Saks Fifth Avenue and its shoppers.  On Monday, November 24, Saks’ flagship store in New York will debut An Enchanted Experience – a new show featuring the unveiling of the store's holiday windows and a dramatic light display incorporating the entire building.

Enchanted holidays are ahead for Saks Fifth Avenue and its shoppers.  On Monday, November 24, Saks’ flagship store in New York will debut An Enchanted Experience – a new show featuring the unveiling of the store's holiday windows and a dramatic light display incorporating the entire building.

The Rockettes will perform on the opening night with a line of 36 dancers on the streets of Fifth Avenue.  The windows and light display presented exclusively by Master Card will continue throughout the holiday season.

September 24, 2014

Hudson’s Bay Company has signed a lease with Brookfield Property Partners L.P. to open an 85,000-sq.-ft. Saks Fifth Avenue store in Brookfield Place at 225 Liberty Street and a 55,000-sq.-ft. Saks Off 5th store at One Liberty Plaza in Lower Manhattan.

Hudson’s Bay Company has signed a lease with Brookfield Property Partners L.P. to open an 85,000-sq.-ft. Saks Fifth Avenue store in Brookfield Place at 225 Liberty Street and a 55,000-sq.-ft. Saks Off 5th store at One Liberty Plaza in Lower Manhattan.

HBC is also leasing 400,000 sq. ft. of office space, adjacent to the Saks Fifth Avenue store at Brookfield Place. This space will become the home office for the company’s New York City-based corporate associates.

September 12, 2014

Hudson's Bay Company is reaping the rewards of its acquisition last year of Saks. The company’s retail sales soared 86.6% to $1.8 billion, from $948 million in the prior year.

Hudson's Bay Company is reaping the rewards of its acquisition last year of Saks. The company’s retail sales soared 86.6% to $1.8 billion, from $948 million in the prior year.

Consolidated same-store sales increased by 1.9% on a local currency basis, with increases of 1.1% at HBC’s department store group (DSG), 2.2% at Saks Fifth Avenue and 14.9% at Off 5th. Digital commerce sales totaled $162 million, including $116 million from Saks and growth of 82.2% at DSG.

September 4, 2014

Saks Fifth Avenue continues to step up its digital efforts with its launch of a user-generated content hub called #SaksStyle.

Saks Fifth Avenue continues to step up its digital efforts with its launch of a user-generated content hub called #SaksStyle.

Created by Curalate on its Fanreel image integration platform, #SaksStyle will function as a daily go-to guide for fashion inspiration created solely by Saks customers, highlighting products purchased from Saks Fifth Avenue locations nationwide and online.

June 3, 2014

Hudson's Bay Company more than doubled sales in the first quarter driven primarily by its acquisition of Saks last year.

Hudson's Bay Company more than doubled sales in the first quarter driven primarily by its acquisition of Saks last year.

Retail sales were $1.9 billion, an increase of $971 million from $884 million for the prior year. Consolidated same-store sales increased by 2.8%, with increases of 2.5% at DSG, 2.6% at Saks Fifth Avenue and 15.1% at Off 5th. Digital commerce sales totaled $207 million, reflecting both the inclusion of Hudson's Bay and Lord & Taylor (which together are referred to as “Department Store Group” or DSG) and Saks.

June 3, 2014

Hudson's Bay Company more than doubled sales in the first quarter driven primarily by its acquisition of Saks last year.

Hudson's Bay Company more than doubled sales in the first quarter driven primarily by its acquisition of Saks last year.

Retail sales were $1.9 billion, an increase of $971 million from $884 million for the prior year. Consolidated same-store sales increased by 2.8%, with increases of 2.5% at DSG, 2.6% at Saks Fifth Avenue and 15.1% at Off 5th. Digital commerce sales totaled $207 million, reflecting both the inclusion of Hudson's Bay and Lord & Taylor (which together are referred to as “Department Store Group” or DSG) and Saks.

December 19, 2013

Saks Fifth Avenue, a subsidiary of Hudson's Bay Company, has appointed Mark Briggs as its chief marketing officer, reporting to president Marigay McKee, effective March 2014.

Saks Fifth Avenue, a subsidiary of Hudson's Bay Company, has appointed Mark Briggs as its chief marketing officer, reporting to president Marigay McKee, effective March 2014.

“Mark brings a wealth of experience in luxury brand management with a proven track record of creating retail magic around heritage brands. His passion for retail theater and essential understanding of the customer will be integral to our success,” said McKee. “I am thrilled to welcome Mark to the Saks team, where he will play a key role on the executive committee.”

October 21, 2013

Saks Fifth Avenue is leveraging Stylewhile’s iPad App so the retailer can offer online shoppers the opportunity of fitting clothing to their specific body type before making a purchase.

Saks Fifth Avenue is leveraging Stylewhile’s iPad App so the retailer can offer online shoppers the opportunity of fitting clothing to their specific body type before making a purchase.
 
Stylewhile is capable of aggregating product imagery from online stores and fitting them on a model of a number of body types. Users can not only virtually try on clothes, but also use the App to select various items from retailers to create complete ensembles.
 

October 14, 2013

Saks Fifth Avenue will unveil its renovated men’s store in its Chicago flagship on Michigan Avenue in January of the new year. The renovation will encompass a total redesign of floors six and seven, creating an open environment that will be easily accessed by a new express elevator that will take passengers directly to the men’s floors.

Saks Fifth Avenue will unveil its renovated men’s store in its Chicago flagship on Michigan Avenue in January of the new year. The renovation will encompass a total redesign of floors six and seven, creating an open environment that will be easily accessed by a new express elevator that will take passengers directly to the men’s floors.  

October 9, 2013

Saks chairman and CEO Stephen Sadove has been named to the board of directors at J.C. Penney to fill a position being vacated by Geraldine Laybourne.

Saks chairman and CEO Stephen Sadove has been named to the board of directors at J.C. Penney to fill a position being vacated by Geraldine Laybourne.

Sadove will be leaving his position at Saks soon as the upscale department store chain was recently sold to Hudson’s Bay Company. Sadove joined Saks in 2002 as vice chairman and assumed the additional post of chief operating officer in 2004. He became CEO in 2006 and the following year was named chairman.

September 16, 2013

Saks has announced that upon completion of its acquisition by Hudson’s Bay Company Stephen I. Sadove, chairman and CEO of Saks, and Ronald L. Frasch, president and chief merchant of Saks, will be leaving the company.

NEW YORK — Saks has announced that upon completion of its acquisition by Hudson’s Bay Company Stephen I. Sadove, chairman and CEO of Saks, and Ronald L. Frasch, president and chief merchant of Saks, will be leaving the company.

September 16, 2013

Saks has announced that upon completion of its acquisition by Hudson’s Bay Company Stephen I. Sadove, chairman and CEO of Saks, and Ronald L. Frasch, president and chief merchant of Saks, will be leaving the company.

NEW YORK — Saks has announced that upon completion of its acquisition by Hudson’s Bay Company Stephen I. Sadove, chairman and CEO of Saks, and Ronald L. Frasch, president and chief merchant of Saks, will be leaving the company.

September 5, 2013

The relocation of Saks Fifth Avenue’s flagship store is allowing leading retail real estate firm Simon Property Group to use the space for other purposes, and the retailer to open a two-story, 198,000-sq.-ft. space adjacent to the one it will vacate at the Houston Galleria.

HOUSTON — The relocation of Saks Fifth Avenue’s flagship store is allowing leading retail real estate firm Simon Property Group to use the space for other purposes, and the retailer to open a two-story, 198,000-sq.-ft. space adjacent to the one it will vacate at the Houston Galleria. 

August 5, 2013

Discount retailers TJ Maxx and Saks Off Fifth outlets plan to dive into e-commerce waters this year, according to reports.

FRAMINGHAM, Mass. — Discount retailers TJ Maxx and Saks Off Fifth outlets plan to dive into e-commerce waters this year, according to reports. 

August 5, 2013

Discount retailers TJ Maxx and Saks Off Fifth outlets plan to dive into e-commerce waters this year, according to reports.

FRAMINGHAM, Mass. — Discount retailers TJ Maxx and Saks Off Fifth outlets plan to dive into e-commerce waters this year, according to reports. 

July 29, 2013

Hudson’s Bay Company has reached a deal to buy Saks Inc. The Canadian retail conglomerate, which operates Lord & Taylor in the United States and Hudson Bay in Canada, will purchase Saks and its 41 stores for a total of about $2.9 billion. Purchase price includes $16 per share of Saks as well as the assumption of Saks’ debt.

NEW YORK — Hudson’s Bay Company has reached a deal to buy Saks Inc. The Canadian retail conglomerate, which operates Lord & Taylor in the United States and Hudson Bay in Canada, will purchase Saks and its 41 stores for a total of about $2.9 billion. Purchase price includes $16 per share of Saks as well as the assumption of Saks’ debt.

June 24, 2013

Saks Fifth Avenue and the Entertainment Industry Foundation have named actress Jennifer Aniston as the EIF ambassador for Saks Fifth Avenue’s 2013 Key to the Cure campaign.

NEW YORK — Saks Fifth Avenue and the Entertainment Industry Foundation have named actress Jennifer Aniston as the EIF ambassador for Saks Fifth Avenue’s 2013 Key to the Cure campaign. 

In the 14 years since the inception of the Saks Fifth Avenue charity shopping weekend, the company, together with its vendors and partners, has raised more than $33 million for cancer research. 

June 24, 2013

Sak’s and Nordstrom have aggressively expanded their off price formats in recent years and now Neiman Marcus wants a bigger piece of the action.

Sak’s and Nordstrom have aggressively expanded their off price formats in recent years and now Neiman Marcus wants a bigger piece of the action.

June 17, 2013

Saks Fifth Avenue plans to launch a new ad campaign encouraging new and existing customers to “discover” what the specialty retailer has to offer via catalogs, direct mail, press initiatives, in-store events, digital marketing, social media and visual displays.

NEW YORK — Saks Fifth Avenue plans to launch a new ad campaign encouraging new and existing customers to “discover” what the specialty retailer has to offer via catalogs, direct mail, press initiatives, in-store events, digital marketing, social media and visual displays.

Called “Look,” the ad campaign positions Saks Fifth Avenue as more than just a place for shoppers to buy things they want or need but as a showroom where potential shoppers can search for what is new. 

April 23, 2013

Retailer Saks Incorporated will be closing its Saks Fifth Avenue store located in the WestShore Plaza in Tampa, Fla., May 4.

NEW YORK — Retailer Saks Incorporated will be closing its Saks Fifth Avenue store located in the WestShore Plaza in Tampa, Fla., May 4.

“This planned closing is in line with our strategy of using our resources in our most productive Saks Fifth Avenue stores. We regularly assess the productivity, profitability and potential of each of our stores and may determine that a closing is appropriate from time to time,” said Steve Sadove, chairman and CEO of Saks.

March 26, 2013

Saks Fifth Avenue announced that John Cruz has been named SVP and director of the New York City flagship store, effective April 29.

New York -- Saks Fifth Avenue announced Monday that John Cruz has been named SVP and director of the New York City flagship store, effective April 29.

Cruz currently serves as VP and general manager of the company’s Beverly Hills store. He has worked at the NYC store before – as general manager 2005-2007 and VP and GM 2007-2010.

Cruz replaces Suzanne Stemper-Johnson, who is leaving Saks to pursue other interests.

 

March 15, 2013

Saks Fifth Avenue has revealed more details about its new two-level, 80,000 sq. ft. store in The Mall at University Town Center in Sarasota, Fla., which is presently under construction at the intersection of I-75 and University Parkway.

SARASOTA, Fla. — Saks Fifth Avenue has revealed more details about its new two-level, 80,000 sq. ft. store in The Mall at University Town Center in Sarasota, Fla., which is presently under construction at the intersection of I-75 and University Parkway. The Mall at University Town Center is being co-developed by Taubman Centers and Benderson Development and is scheduled to open Oct. 16, 2014.

March 11, 2013

Saks Fifth Avenue has redesigned the Saks.com homepage to include a longer, more fluid layout that more prominently highlights seasonal trends and most-wanted designers.

NEW YORK — Saks Fifth Avenue has redesigned the Saks.com homepage to include a longer, more fluid layout that more prominently highlights seasonal trends and most-wanted designers. 

The new site now features larg-scale photography, improved navigation, easier access to magazine-style features and enhanced product detail pages.

Saks.com was last refreshed in July 2010 and the last complete redesign was in September 2007.