Off-Pricers Feel the Effects of International Shoppers
September 2, 2016
Saks Fifth Avenue Off 5th fills Off-Price Gap in Canada
Hudson’s Bay Company has received a boost from Saks Fifth Avenue Off 5th’s recent store expansions, especially at its Canadian locations.
Saks Fifth Avenue and OFF 5TH, CEO, Jerry Storch said, “In Canada, we are seeing strong early results from our first two Saks Fifth Avenue stores and our first four OFF 5TH stores,” said Jerry Storch, CEO of Hudson’s Bay, parent company of Saks Fifth Avenue and Saks Fifth OFF 5th. “We believe there is an unmet need in the Canadian market for a luxury off-price retailer, and our expansion of OFF 5TH is well positioned to fill that gap.”