Saks Off 5th

SKYPAD Announces Partnership With Saks OFF 5TH

Retrieved on: 
Wednesday, February 9, 2022
Gucci, Human, Growth, Lucky Brand Jeans, Neiman Marcus, Multimedia, Saks Off 5th, Forecasting, Automation, Burberry, Software as a service, Risk, Saks Fifth Avenue, Rag, CEO, Partnership, View, Saks, COVID-19, Retail, Online shopping, Nordstrom

NEW YORK, Feb. 9, 2022 /PRNewswire/ -- SKYPAD, a global leader in product performance analytics for retailers and brands, has announced a new partnership with Saks OFF 5TH today.

Key Points: 
  • NEW YORK, Feb. 9, 2022 /PRNewswire/ -- SKYPAD, a global leader in product performance analytics for retailers and brands, has announced a new partnership with Saks OFF 5TH today.
  • This partnership will significantly transform the way sales and inventory data is shared between Saks OFF 5TH and its vendor partners, delivering an optimal customer shopping experience.
  • "As Saks OFF 5TH continues to experience significant growth, we are focused on increasing our digital capabilities to ensure we deliver a best-in-class customer experience," said Molly Taylor, Chief Merchant, Saks OFF 5TH.
  • Jay Hakami, CEO of SKYPAD, was thrilled about the partnership, commenting, "We are excited to partner with Saks OFF 5TH.

SHOPPERS PREPARE FOR NATIONAL USE YOUR GIFT CARD DAY™

Retrieved on: 
Monday, January 10, 2022
Saks Off 5th, Maurices, Saks, Restaurant, Great Greeks, National Use Your Gift Card Day, Online shopping, Toy

Maurices: Shop using a Maurices gift card, in-store or online at maurices.com, and receive triple rewards points on your purchase.

Key Points: 
  • Maurices: Shop using a Maurices gift card, in-store or online at maurices.com, and receive triple rewards points on your purchase.
  • Saks: Use your Saks gift card, in-store or online, on National Use Your Gift Card Day or take advantage of Saks.com Fashion Flash 1/16-1/17 with savings up to 75% off.
  • National Use Your Gift Card Day recommends this simple three-step plan:
    1 Locate all unspent gift cards, even ones left with a small balance.
  • National Use Your Gift Card Day is an American shopping holiday held on the third Saturday each January, reminding consumers to use their unused gift cards before they are forgotten.

Saks OFF 5TH Increases Minimum Wage to $15 for Hourly Associates

Retrieved on: 
Thursday, October 14, 2021
Saks, Saks Off 5th, Holiday, Time, Renewable energy, Department store

Effective immediately, Saks OFF 5TH is raising minimum base wages for all hourly store associates in North America to $15 per hour.

Key Points: 
  • Effective immediately, Saks OFF 5TH is raising minimum base wages for all hourly store associates in North America to $15 per hour.
  • Additionally, to further recognize associates' efforts as they navigated through an unprecedented time, the company is awarding hourly store associates an appreciation bonus of $500.
  • O5 operates the Saks OFF 5TH store fleet, which includes more than 100 locations across the U.S. and Canada.
  • Through its Saks OFF 5TH stores, the company offers a compelling assortment of brands to fashion-seeking customers at the best prices.

HBC to Launch Innovative New Work and Life Concept “SaksWorks”

Retrieved on: 
Tuesday, August 17, 2021
Other Construction & Property, Commercial Building & Real Estate, Construction & Property, Ecosystem, Brookfield Place, Compass Group, Life, Saks Off 5th, Saks Fifth Avenue, Serbisyo All Access, HBC, Rivet, WeWork, SFA, Multimedia, BDY, CEO, Woman, Technology, Saks, Real estate, Department store

HBC announces the launch of a first-of-its-kind business that brings flexible and elevated life and work spaces and amenities to the suburbs and the city under a new operating company and brand named SaksWorks.

Key Points: 
  • HBC announces the launch of a first-of-its-kind business that brings flexible and elevated life and work spaces and amenities to the suburbs and the city under a new operating company and brand named SaksWorks.
  • With SaksWorks, we extend this nearly century-long legacy to this new operating company to meet the moment of hybrid work.
  • SaksWorks brings together work and life in a way that has never been done before.
  • Additionally, SaksWorks and WeWork members will have access to both SaksWorks and WeWork workspaces for six months from location opening.

Saks OFF 5TH Closes ABL and Term Loan Facilities to Further Enhance Liquidity

Retrieved on: 
Monday, August 9, 2021
Growth, Public expenditure, Saks Off 5th, Saks, Citibank, Department store

NEW YORK, Aug. 9, 2021 /PRNewswire/ -- Saks OFF 5TH, the premier online luxury off-price destination, has closed on a syndicated $125 million asset-based five-year revolving credit facility jointly arranged by Citibank and Citizens and a $20 million term loan arranged by Callodine Commercial Finance.

Key Points: 
  • Luke Coffey, Chief Financial Officer, Saks OFF 5TH, commented, "SaksOFF5TH.com continues to experience outstanding growth, and we see great opportunity ahead as we work to enhance our digital capabilities and customer experience.
  • These transactions further solidify our strong liquidity position and support our investment plan, providing us with additional financial flexibility."
  • Saks OFF 5TH's strong balance sheet will be bolstered by the term loan proceeds, which follows a recent capital raise valuing the Saks OFF 5TH ecommerce business at approximately $1 billion.
  • Through its website and app, Saks OFF 5TH provides a compelling assortment of brands to fashion-seeking customers at the best prices.

HBC and Insight Partners to Establish Saks OFF 5TH Standalone Digital Business

Retrieved on: 
Monday, June 21, 2021
Online Retail, Fashion, Luxury, Retail, Department Stores, Saks Fifth Avenue, Hudson's Bay Company, Department stores by country, Retailers, Service companies, Saks Off 5th, Insight Partners, HBC, Insight Partners, Rhône, HBC, INSIGHT PARTNERS, RHôNE

HBC and leading growth capital investor, Insight Partners, have entered into a partnership to establish Saks OFF 5THs ecommerce business as a standalone entity.

Key Points: 
  • HBC and leading growth capital investor, Insight Partners, have entered into a partnership to establish Saks OFF 5THs ecommerce business as a standalone entity.
  • Insight Partners has led a $200 million equity investment in Saks OFF 5THs ecommerce business, valuing the company at approximately $1 billion.
  • Paige Thomas has been appointed President and CEO of the new digitally native Saks OFF 5TH business.
  • Insight Partners is joining other significant investors in HBC and Saks OFF 5TH, including Rhne and its affiliates, a leading investor in HBC since 2017.

Saks OFF 5TH Commits to Going Fur-Free by End of Fiscal 2022

Retrieved on: 
Thursday, April 8, 2021
Saks Fifth Avenue, Hudson's Bay Company, Department stores by country, Fur, Shearling, Sheep, Textiles, Saks Off 5th, Retailing, Retailers, Fake fur, Goatskin

NEW YORK, April 8, 2021 /PRNewswire/ --Saks OFF 5TH has committed to stop selling products made using animal fur through a phased approach by the end of fiscal 2022 on January 28, 2023.

Key Points: 
  • NEW YORK, April 8, 2021 /PRNewswire/ --Saks OFF 5TH has committed to stop selling products made using animal fur through a phased approach by the end of fiscal 2022 on January 28, 2023.
  • Saks OFF 5TH will also work closely with vendor partners to phase out the sale of fur products both online and in its US and Canadian stores by the end of fiscal 2022.
  • Shearling, goatskin, cattle hide, down, feathers, leather and faux fur products will continue to be sold online and in stores.
  • Saks OFF 5TH is a world-class destination for top designer brands at extraordinary value.

Klarna announces partnership with Saks OFF 5TH ahead of the holidays

Retrieved on: 
Tuesday, November 24, 2020
Hudson's Bay Company, Department stores by country, Saks Fifth Avenue, Saks Off 5th, Retailing, Retailers, Saks

"At Saks OFF 5TH, we continue to see great opportunity ahead with our digital business and are focused on identifying innovative ways to enhance our online experience for our customers," said Paige Thomas, President & CEO, Saks OFF 5TH.

Key Points: 
  • "At Saks OFF 5TH, we continue to see great opportunity ahead with our digital business and are focused on identifying innovative ways to enhance our online experience for our customers," said Paige Thomas, President & CEO, Saks OFF 5TH.
  • With the omni experience top of mind, Saks OFF 5TH also intends to launch Klarna in-store in 2021.
  • "For years, Saks OFF 5TH has been a go-to destination for shoppers seeking memorable gifts and the best in luxury value," said David Sykes, Head of US at Klarna.
  • As part of the HBC brand portfolio, Saks OFF 5TH is a world-class destination for top designer brands at extraordinary value.