Saks Fifth Avenue

The number of Saks Off 5th stores will surge dramatically as will investments in technology as Hudson’s Bay Company said it will make higher than normal investments in growth initiative this year.

On the heels of soaring profits and revenues in the fourth quarter, Hudson’s Bay Company said it will make higher than normal investments in growth initiatives this year, including a dramatic increase in the number of Saks Off 5th stores, store renovations and investments in technology.

Earlier this month, DSW announced plans to acquire Ebuys Inc. an off-price footwear and accessories e-tailer. This news follows last month’s reports that Hudson’s Bay (the owner of Saks Fifth Avenue and other department store chains) was acquiring Gilt Group.

Less than a month after Hudson’s Bay Company brought Saks Fifth Avenue to Canadian shoppers, the company this month is opening the first of 25 planned Saks Off 5th stores.

Three new Saks Off 5th stores are scheduled to open on March 17 in Vaughan Mills, Halton Hills and Niagara-on-the-Lake, Ontario. The openings will allow Canadians to experience the ultimate "thrill of the hunt" shopping that Saks Off 5th is renowned for, with access to the some of the best brands and fantastic finds, in a fun to shop store format,” according to the company.

Less than a month after Hudson’s Bay Company brought Saks Fifth Avenue to Canadian shoppers, the company this month is opening the first of 25 planned Saks Off 5th stores.

Three new Saks Off 5th stores are scheduled to open on March 17 in Vaughan Mills, Halton Hills and Niagara-on-the-Lake, Ontario. The openings will allow Canadians to experience the ultimate "thrill of the hunt" shopping that Saks Off 5th is renowned for, with access to the some of the best brands and fantastic finds, in a fun to shop store format,” according to the company.

Saks Fifth Avenue is offering personalized service from store associates to customers beyond the confines of the store.

Partnering with personalized e-commerce technology provider Salesfoor, Saks is letting online customers create customizable Saks.com boutique pages. The pages contain personally curated assortments of Saks merchandise, accessible through a dedicated URL.

Online specialty luggage retailer eBags Inc. has restructured its senior leadership ranks with several new hires and the promotion of long-time executives.

Scott Erdman has been named chief merchandising officer and Krista Paul is joining as VP of content innovation. eBags also appointed Mike Frazzini CTO and Chris Seahorn VP of marketing.

Hudson's Bay Company says online sales were particularly strong in the fourth quarter and contributed to the company's same-store sales growth of 11% for the period.

The Canadian firm and parent company of the Saks Fifth Avenue banners said that for the fourth quarter ended Jan. 31:

• Same-store sales grew 11%;
• The Department Store Group (DSG) had a same store sales increase of 4%;
• Saks Fifth Avenue Off 5th same-store sales increased 2%;
• Saks Fifth Avenue same-store sales decreased 1.2%;