Saks Fifth Avenue

Saks Fifth Avenue Off 5th announced plans for two new stores in Canada.   The retailer plans to open a location at CF Markville in Markham, Ontario. The approximately 27,000 sq. ft. store is scheduled to open in 2018.    “Ontario is a key market for Saks Off 5th in Canada and we’re excited to continue to grow our presence there,” commented Jonathan Greller, president, Saks Off 5th and Gilt, which are part of Hudson’s Bay Company.  

Saks Fifth Avenue is adding to its store fleet up north.   On Thursday, March 9, Saks Fifth Avenue Off 5th will open two new locations in the greater Toronto area,      “This month marks our one year anniversary of entering the Canadian market, and we’re excited to continue our Canadian expansion with two new stores in the GTA,” said Jonathan Greller, president, Saks Off 5th and Gilt.   

Weaker results in its European, Saks Off 5th and Gilt operations contributed to lower fourth quarter sales for Hudson’s Bay Company   For the fourth quarter ended January 28, 2017, the company’s consolidated comparable sales decreased 1.2%. Specifically, DSG (Hudson’s Bay, Lord & Taylor and Home Outfitters) same-store sales increased 0.6%, and Saks Fifth Avenue comparable sales increased 0.1%.   

Saks Fifth Avenue is giving New York City a new “boy’s club.”    The chain’s first-ever Saks Downtown Men’s store is a stand-alone 16,000-sq.-ft. location dedicated to men’s categories. Featuring a strong focus on modern fashion, it carries more than 100 brands, including a dominant assortment of designer footwear and accessories.    Located at 250 Vesey Street in lower Manhattan, the store also features an “experiential shopping environment.” 

The Tori Richard brand is a staple in Hawaii, but it’s taking steps to expand sales across the continental United States.   A company founded as a women's wear brand 60 years ago in Honolulu, has since become an internationally recognized men's and women's resort wear brand available in its 17 stores and approximately 2,500 wholesale accounts, including in Neiman Marcus, Saks Fifth Avenue and Nordstrom. This breadth contributes to sales that span across the main-land U.S., Latin America, and Asia-Pacific. 

Swire Properties has announced the addition of Zara and MAC Cosmetics to its 500,000-sq.-ft., open-air collection of luxury retailers and gourmet food option in Miami’s Brickell City Centre. Both stores look toward a fall opening.  

A blockbuster deal in retail could be on the horizon. Or not.   Canada’s Hudson's Bay Company has approached Macy’s about a takeover, reported The Wall Street Journal, citing people familiar with the matter.   The talks between the companies are in the early stages and could lead to something other than an acquisition, according to the Journal, such as a deal for Macy’s real estate, which could be valued at roughly $14 billion. The talks could also go nowhere.

Barneys New York has promoted its COO to the top job.   Daniella Vitale has been named chief executive officer of the New York-based upscale specialty retailer.    Vitale replaces Mark Lee, who is retiring and will assume the role executive chairman. Lee joined Barneys as chief executive in 2010. He is credited with turning the business around. Lee previously served as CEO of Gucci, and also held positions at Yves Saint Laurent, Armani and Jill Sander. He started his career at Saks Fifth Avenue.