Saks Fifth Avenue is coming to Canada

[Shwa Girl]

UPDATE: Saks Off 5th, a discount version of Saks will open Spring 2015 in Ontario
Vaughan Mills (Vaughan), Niagara-on-the-Lake and Ottawa will open first

http://www.thestar.com/business/2015...xt-spring.html

Vaughan Mills has GO Bus service during summer hours

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Saks Fifth Avenue is coming to Canada

Two stores are scheduled to open from 2015 and 2016

Toronto~Eaton’s Centre area~Fall 2015
Toronto~Sherway Gardens~ 2016

Saks, Lord & Taylor and The Bay are the same company.

Nice to see another U.S. store opening in Canada.
Saks Fifth Avenue and Nordstrom will compete to win over Canadian shoppers.

Let the games begin!

[Shwa Girl]

Saks, which was recently acquired by Canada's Hudson's Bay, has plans to open seven full-line stores and 25 Saks Off 5th stores, beginning in fall 2015.

http://www.cnbc.com/id/101481503

[anisa]

The bay def. Needs some competition up here. I hate the selection there these days. Can't wait for Nordstrom.

[floppy]

Is it me but am I the only one that's confused how the Bay could aquire Saks? Anytime I've gone into the Bay it's always empty or near desserted. If Sears couldn't make it, I don't see how the Bay can. The only thing the Bay has going for itself is that it has MAC and you've got that label (I can't remember but it's the designer brand).

I don't mean to crush any Bay lovers out there (I'd like to like the Bay but I just can't because the pricing and selection isn't that great) but how do they stay afloat?

We used to go there to buy clothes but now the demographic they are going for (anyone under 40) it's impossible to even find decent clothes that 1# are not skin tight or 2# really expensive.

If the Bay owns Saks I can't see there being much competition, it'd be like Target all over again. We expected alot of selection but it's nearly the same as what we have here (with the odd thing here and there that's unavailable elsewhere)

[Shwa Girl]

Is it me but am I the only one that's confused how the Bay could aquire Saks? Anytime I've gone into the Bay it's always empty or near desserted. If Sears couldn't make it, I don't see how the Bay can. The only thing the Bay has going for itself is that it has MAC and you've got that label (I can't remember but it's the designer brand).

I don't mean to crush any Bay lovers out there (I'd like to like the Bay but I just can't because the pricing and selection isn't that great) but how do they stay afloat?

We used to go there to buy clothes but now the demographic they are going for (anyone under 40) it's impossible to even find decent clothes that 1# are not skin tight or 2# really expensive.

If the Bay owns Saks I can't see there being much competition, it'd be like Target all over again. We expected alot of selection but it's nearly the same as what we have here (with the odd thing here and there that's unavailable elsewhere)

It could be that The Bay is more than just The Bay.
HBC has a financial arm as well. So credit cards and a mortgage business may be keeping them in the money.

[floppy]

It could be that The Bay is more than just The Bay.
HBC has a financial arm as well. So credit cards and a mortgage business may be keeping them in the money.

Ok so I'm not the only one that is puzzled how the bay has so much money. I feel better now.

On that note though, Sears also had credit cards but that wasn't enough to keep them afloat...

Does anyone know if Nordstrom and Saks are paying rent on the vacanted sears property right now or do they pay when they begin construction?

[Shwa Girl]

Ok so I'm not the only one that is puzzled how the bay has so much money. I feel better now.

On that note though, Sears also had credit cards but that wasn't enough to keep them afloat...

Does anyone know if Nordstrom and Saks are paying rent on the vacanted sears property right now or do they pay when they begin construction?

I think they are paying rent as they prepare the property.

Sears over spent on it's purchase of Kmart and has not realized the profits they expected.

Really good questions

[Shwa Girl]

Looks like The Bay is doing well even after buying Saks Fifth Avenue stores.

Hudson's Bay Company is reporting first-quarter net earnings of $176 million and boosted its retail sales to $1.85 billion in the post-holiday period.

The retailer earned 97 cents per share in the quarter and that compares with a loss of 19 cents in the quarter a year ago on a net loss of $22 million.

The jump in retail sales to $1.85 billion is an increase of $971 million year-over-year.


Digital sales, important to the company's future growth, were $207 million in the quarter and included sales at Hudson's Bay Company, Saks and Lord & Taylor.

Same stores sales, which are stores that have been open for at least a year, were up 2.8 per cent year-over-year.

HBC said it completed the sale and lease back of its Queen Street ship store and Simpson Tower office complex in Toronto for a purchase price of $650 million and used most of the net proceeds to reduce debt.


The company completed its acquisition of luxury U.S. retailer Saks late in 2013 for $2.9 billion including debt and is planning to bring the brand to Canada.

"Overall first quarter performance was in the range of our expectations," HBC Governor and CEO Richard Baker said in a news release on Tuesday.

"We are encouraged by the business trends witnessed through the quarter, which bode well for the balance of this year," he said.

Baker also said the Hudson's Bay company wants to increase digital sales across its retail banners and growth will also include new stores in the United States and Canada.


The national retailer's banners — Hudson's Bay, Lord & Taylor, Saks Fifth Avenue and Saks Fifth Avenue OFF 5TH — offer clothes, accessories, shoes, beauty and home merchandise.


Hudson's Bay has 90 full-line locations in Canada, one outlet store and thebay.com. Lord & Taylor operates 49 full-line locations primarily in the northeastern and mid-Atlantic U.S., four Lord & Taylor outlet locations and lordandtaylor.com.

Saks Fifth Avenue has 39 U.S. stores, five international licensed stores and saks.com. OFF 5TH offers value-priced merchandise at 75 U.S. stores and saksoff5th.com.

HBC's Home Outfitters is Canada's largest kitchen, bed and bath specialty superstore with 69 locations.

[Shwa Girl]

Saks store opens in Toronto's Eaton Center on Feb. 25

[maiyuu]

The store opened at Eatons today I believe the sherway location will be opening on the 25th

[Natalka]

Can't wait for you rich folks to post the pricey things you have bought! Yay!
I mean it, I'm not being sarcastic - I really want to know!

[JDI007]

Can't wait to hear about other locations..

[woo416]

Has anyone been to the Saks store already? How is it? Any thoughts? Is it at the Queen St. Bay location (inside The Bay)?

[Ciel]

The Saks Off 5th stores opened in Vaughan Mills, Toronto Premium Outlets and Outlet Collection at Niagara today.
Next week, another location will open on March 25 at a Tanger Outlet location.

[Shwa Girl]

The Saks Off 5th stores opened in Vaughan Mills, Toronto Premium Outlets and Outlet Collection at Niagara today.
Next week, another location will open on March 25 at a Tanger Outlet location.

Thanks for updating the thread.