The Saks Off 5TH designer off-price stores in Amsterdam and Rotterdam will shut down in June. The stores, opened by HBC just 1.5 years ago, join the German store closings announced earlier this month.
Hudson’s Bay Corporation opened five Saks Off 5TH stores in Germany during the summer of 2017 which was followed by stores in Amsterdam and Rotterdam here in the Netherlands in the early Fall that year. The seven stores were part of a larger expansion by the HBC Europe division which owned German department store chain Kaufhof at the time.
Last year, HBC Europe, which also owned the Hudson’s Bay Netherlands stores, merged with Sigma Retail (owner of German department store chain Karstadt), forming a new company which is 51% owned by Sigma, 49% owned by HBC. The new entity’s top management are from the Sigma group.
Earlier this month it was announced that the German Saks Off 5TH stores would close in June due to poor performance, so it was not unexpected that the Amsterdam and Rotterdam stores would follow suit. All seven stores will be shuttered by the end of June. Closeout sales have started in the Netherlands stores as of today. Most merchandise is 40% off the ticketed price (which is already discounted off the SRP).
Saks Off 5TH Rotterdam store is located at Beurs (Galeria). Saks Off 5TH Amsterdam store is located in the Kalverpassage.