Saks Fifth Avenue Is Getting The Bizarro Sears Treatment

The owner of luxury fashion retailer Saks Fifth Avenue is following a similar playbook to Sears — one that coincided with the latter’s long decline, and ultimately to bankruptcy.
Hudson’s Bay Co., parent company of Saks, the lower-price concept Saks Off Fifth and its namesake Canadian store chain, has spun off the e-commerce businesses of both Saks brands this year, Retail Dive reports. HBC retained sole ownership of the brick-and-mortar businesses of both and their associated real estate. Private equity firm Insight Partners has taken minority positions in both new companies.
SFA, the entity that operates Saks Fifth Avenue locations, shares branding with Saks, the newly formed e-commerce…

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