OFF 5TH Due for State Street

On June 12, Hudson’s Bay Company (HBC) announced its plans to modify the Saks Fifth Avenue store in Santa Barbara to an OFF 5TH outlet in the same location. The transition will be finalized in October.

“This is a strategic decision to optimize the potential of the location and still deliver a signature shopping experience within the market. We believe converting to an OFF 5TH location is the best decision for our company and for our customers,” stated Marc Metrick, president of Saks Fifth Avenue, in Business Wire’s press release regarding the renovation.

Hudson’s Bay Company operates 38 Saks Fifth Avenue stores in the U.S. , among many other retail stores, and 83 OFF 5TH outlets. The objective of OFF 5TH stores is to sell the variety of brands and styles of Saks Fifth Avenue at discounted prices, the company says.