Saks Fifth Avenue

It would take a pretty big event to cause Nordstrom, Saks Fifth Avenue, Bergdorf Goodman, Saks Off 5th, and Neiman Marcus to all align their online discount offers.

Singles Day, coming up on Nov. 11, is just that size of an event. Once an informal celebration of the Chinese singles dating scene, Chinese e-commerce giant Alibaba formally turned Singles Day into a shopping holiday in 2009. The occasion generated gross merchandise volume of more than $9.3 billion on the Alibaba Alipay mobile and digital payment platform alone in 2014.

Saks Fifth Avenue Off 5th will open a store at Newcity, the newly opened mixed-use development located in Chicago’s Lincoln Park neighborhood.

The 40,000-sq.-ft. store, which will be the seventh Off 5th location in Chicago, is scheduled to open in May 2016. The off-price retailer recently announced another spring 2016 store opening in Chicago, on State Street at the corner of State and Madison.

Saks Fifth Avenue’s holiday windows are an annual tradition in Manhattan, and the retailer keeps upping the ante.

Saks will unveil its windows on Nov. 23, and the display promise to light up the night. The retailer will transform its windows with a “Winter Place” theme, complete with a state-of-the-art light show featuring three-dimensional elements on the front facade of the iconic store, including towering light icicles, crystal palace spires, and snowy magnolia arches.

Saks Fifth Avenue’s holiday windows are an annual tradition in Manhattan, and the retailer keeps upping the ante.

It seems as though off-price is one of the few bright spots in traditional retail these days, so it's no wonder that Hudson’s Bay Company is adding another off-price concept to its portfolio.

Twenty-three year SPECS attendee Randy Pannell, VP of construction for Saks Fifth Avenue, shares his thoughts on SPECS, Chain Store Age’s annual store planning/construction and facilities conference, which will be held March 13-15, 2016, in Dallas. For more on the event, click here.

Why do you attend SPECS each year?
To be honest, in the early years, SPECS was really just a trade show to me. But I soon realized that it was more than that. It really worked!

Saks Fifth Avenue is expanding further into the specialty store business.

The retailer announced plans to open a 21,000-sq.-ft. store devoted to jewelry and contemporary women’s ready-to-wear in Greenwich, Connecticut. Earlier this year, Saks announced plans to open a standalone shoe store concept, 10022-Shoe, also in Greenwich.

Saks already operates a women’s-only store in Greenwich, which it opened in 1997.

All three of the Saks stores will be in walking distance of one another.

Hudson's Bay Company (HBC) is launching a wide-ranging cost-cutting initiative and corporate realignment strategy, with omnichannel technology at the center.

The realignment will include a reduction of about 265 corporate employees, expected to result in an annual savings of $75-million a year. The cuts are mostly in the company’s U.S. corporate offices in New York.