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Saks Fifth Avenue

  • Hudson’s Bay takes out $1.25 billion mortgage on Saks store

    With the value of its flagship store on New York City’s Fifth Avenue appraised at an astonishing $3.7 billion, Saks parent Hudson’s Bay Co. has taken out a $1.25 billion loan to pay down debt and finance a $250 million renovation in 2015.

  • Saks’ NYC flagship valued at $3.7 billion—more than Hudson’s paid for entire company

    New York - It appears that Hudson’s Bay Co. got itself quite a deal when it purchased Saks Fifth Avenue in 2013 for the sum of $2.9 billion, including debt. Saks’s signature  Fifth Avenue flagship has recently been appraised at an whopping $3.65 billion—significantly more than Hudson’s Bay paid for the entire chain.  As much as anything, however, the appraisal reflects the strength of Manhattan’s retail real estate market.

  • Saks Fifth Avenue partners with MasterCard on holiday window display and light show

    New York -- Saks Fifth Avenue’s flagship in Manhattan will unveil its holiday window display and light show on Monday, Nov. 24. Presented by MasterCard, the show will integrate LEDs, strobes, up-lights, video projections and music.   

  • Saks holidays more festive than ever

    Enchanted holidays are ahead for Saks Fifth Avenue and its shoppers.  On Monday, November 24, Saks’ flagship store in New York will debut An Enchanted Experience – a new show featuring the unveiling of the store's holiday windows and a dramatic light display incorporating the entire building.

    The Rockettes will perform on the opening night with a line of 36 dancers on the streets of Fifth Avenue.  The windows and light display presented exclusively by Master Card will continue throughout the holiday season.

  • Nordstrom tops luxury ranking list

    America’s most affluent prefer Nordstrom’s brand of omnichannel retail over some of the biggest luxury retailers out there, according to a new study.

    An organization called the Luxury Institute released findings from its 2015 Luxury Multichannel Engagement Index (LMEI) survey of large multi-brand retailers. Responders had a minimum annual income of $150,000, an average annual income of $318,000 and an average net worth of $3.1 million.

  • Saks to close store in Hackensack, N.J.

    New York -- Saks Fifth Avenue announced that it plans to close its Saks Fifth Avenue store in the Shops at Riverside in Hackensack, N.J. The store is expected to close in late 2014.   “Closing a location is never an easy business decision. At this time, we are committed to offering support and assistance to our team affected by the closing,” commented Marigay McKee, President of Saks Fifth Avenue.

  • Mall at University Town Center opens in Florida

    Bloomfield Hills, Mich. -- The Mall at University Town Center has opened in Sarasota, Fla. Featuring more than 100 retailers and restaurants, well over half of which are unique to the Sarasota-Manatee market. The Mall at UTC is the only newly built enclosed regional shopping center to open in the United States this year.  

  • Report: Nordstrom looking to open store in downtown Manhattan

    New York -- Nordstrom is searching for about 250,000 sq. ft. of space in which to open a full-line store in downtown Manhattan, Women’s Wear Daily reported. Saks Fifth Avenue recently announced it will open downtown, as an anchor in Brookfield Place.

    Nordstrom is scheduled open its first full-line store in the Big Apple, on 57th Street between Broadway and Seventh Avenue, in 2018.

     

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