Saks OFF 5TH news and archive

Saks Off 5th launches shopping app

Saks Off 5th has launched a shopping app to help with their digital growth. Last year, the company converted their web platform to Salesforce, a cloud-based software company that provides tools to help build apps and websites. Before the pandemic, digital sales were 30 percent of Saks Off 5th’s revenue, which totaled 1 billion dollars in 2019....

Retail

Klarna and Saks OFF 5TH announce new payment plan partnership

Saks OFF 5TH and Klarna have joined forces to offer customers of the luxury-value retailer access to buy now, pay later solutions at checkout. U.S. shoppers visiting the Saks OFF 5TH e-commerce site can opt to split their purchase into four interest-free payments through Klarna, increasing their convenience and spending power. This partnership...

Fashion

Saks Off 5th partners with Food Bank for New York City

Saks Off 5th is launching a give back campaign to support those in need in New York City. Starting May 6, the off-price retailer is offering a curated social media shop called "Shop for Good." Twenty percent of net proceeds from this shop, as well as from gift card sales will benefit the Food Bank For New York City. The Food Bank For New York...

People

Saks OFF 5th appoints ex Nordstrom Paige Thomas as president

New York – HBC (TSX: HBC) announced Monday they have appointed Paige Thomas as President of Saks Off 5TH, effective immediately. “Paige has a proven track record of achieving aggressive growth within off-price retail through superior cross-channel customer experiences,” said in the corporate announcement Helena Foulkes, CEO at HBC, owner of Saks...

BusinessFeatured

Q3 net loss widens at Hudson’s Bay Company, same-store sales drop

Hudson’s Bay Company’s (HBC) third quarter comparable sales declined 1.7 percent. Third quarter revenues totalled 1.8 billion Canadian dollars, including 55 million Canadian dollars from liquidating stores at Saks Off 5th, Hudson’s Bay clearance centers, and HBC Netherlands. Digital sales increased 15 percent year-over year due to continued...