Saksoff5th

Highly Engaged Employees

Saksoff5th, founded in 1990, operates as an American off-price department store chain and is a subsidiary of the luxury retailer Saks Fifth Avenue. Since 2013, both entities have been under the ownership of Hudson's Bay Company (HBC). The company's retail model positions it comparably to other off-price competitors such as Nordstrom Rack, as well as traditional department stores. In response to declining sales and cost-cutting measures, HBC announced in 2019 plans to reduce the chain's footprint by closing up to 20 locations across the United States, reflecting strategic adjustments in a competitive market.

The company maintains a significant operational presence, employing between 5,000 and 10,000 individuals across its 16 locations. Saksoff5th also leverages its e-commerce platform to extend its reach beyond physical retail. To understand the human capital driving these operations, one can explore Meet Saksoff5th's team for insights into their leadership and organizational structure. In February 2020, former Nordstrom Rack executive Paige Thomas was appointed president, signaling a focus on experienced management to navigate market challenges and enhance customer experience.

Saksoff5th's revenue reached $1.5 billion, reflecting its substantial market activity. Its competitive set includes various retail formats, from specialized off-price outlets to broader department store offerings. The company's industry classification spans Department Stores, Shopping Centers & Superstores, and Retail, underscoring its broad market engagement. Its product offerings include e-commerce capabilities, supporting a multi-channel sales strategy in the dynamic retail sector.