Press release from Business Wire
Saks Incorporated's Saks Fifth Avenue OFF 5TH to Launch Online Store on September 30, 2013
Monday, September 30, 2013
Saks Incorporated's Saks Fifth Avenue OFF 5TH to Launch Online Store on September 30, 201309:00 EDT Monday, September 30, 2013
NEW YORK (Business Wire) -- Saks Incorporated's (NYSE: SKS) Saks Fifth Avenue OFF 5TH, a premier destination for top designer shopping at extraordinary prices, is proud to announce the highly anticipated launch of its online store, saksoff5th.com on Monday, September 30. With up to 55% off year-round, Saks OFF 5TH offers carefully curated, off-the-runway trends, exceptional service, and unbelievable savings—now available anytime, anywhere.
“This is a significant milestone for Saks OFF 5TH as the company rounds out our omni-channel offerings. In addition to our 70 nationwide stores, the e-commerce site is yet another platform through which we can provide our curated off-price shopping experience. We want it to be the Saks of the off price world, a true extension of the brand,” said Robert Wallstrom, President of Saks Fifth Avenue OFF 5TH.
“We designed the site to be a sleek, modern online reflection of the elevated design of the OFF 5TH stores with a strong value message. We think it will become a best in class off price fashion destination online,” said Michael Burgess, President of Saks Direct.
Along with our expanding base of stores, customers can now shop 24 hours a day—with round-the-clock assistance from our customer care team. Mobile and tablet enhancements for shopping will be part of the evolution of the site interface.
Saks OFF 5TH online will offer the same great men's and women's collections as in-store. Shoppers can discover our expanded collections of new designer labels, the latest fashion and trends, and high-quality merchandise at an extraordinary value ranging from men's and women's ready-to-wear, footwear, handbags, accessories, jewelry, watches and beauty.
Online customers will have visibility and accessibility to shop all of the top designer brands that may have limited distribution and only in select stores nationwide. Additionally, the e-commerce site will offer customer's access to Salon Z, a plus size women's program not available in all stores.
The site is designed to reflect the experience of in-store shopping and modeled after the loft like, bright, open atmosphere of Saks OFF 5TH stores. The online store will be best in class with superior functionality. Customers will have more control over their filter options, they will be able to hover over product images animated through multiple views of the item, and full-screen zoom is available for all products, among other innovative features.
Online promotions for saksoff5th.com will mirror in-store promotions with new product offerings daily. There will also be the specialized offers and exclusive merchandise for top customers to enjoy. Additionally, the site will include FashionFix events, which will migrate from Saks.com to saksoff5th.com. FashionFix is an additional space that provides exceptional deals on non-outlet premier designer products through curated flash sales.
Customers will also be able to sign up for emails to learn about current promotions, in store events and connect to social media channels, i.e. Facebook, Twitter, Instagram and Pinterest.
The Saks OFF 5TH More! Program will be offered on the e-commerce site. It is a free membership that gives customers access to additional savings in stores and online. Members will receive advance notice of special events, special coupons and invitations to private sales.
During the launch all shoppers of saksoff5th.com will receive free shipping on all orders during a limited introductory period. SaksFirst members will be honored with free shipping on all orders, all of the time. Other services on the site include shipment tracking, SaksFirst Card management and the opportunity to purchase and redeem gift cards.
About Saks Incorporated and Saks Fifth Avenue OFF 5TH
Saks Incorporated currently operates 41 Saks Fifth Avenue stores, 70 Saks Fifth Avenue OFF 5TH stores, and saks.com.
Saks Fifth Avenue OFF 5TH is a world-class, full-service destination for value-priced clothes and accessories for men, women, children and the home. The retailer's 70 nationwide stores and online store, saksoff5th.com, combine the two great joys of shopping: the delight of discovering the very best and the thrill of the deal. A carefully curated off-priced shopping experience, we feature highly coveted designers alongside exclusive Saks brands you won't find anywhere else, all in a luxury-in-a-loft environment. Saks Fifth Avenue OFF 5TH simply offers more style, more savings and more service than any other value retailer.
The information contained in this press release that addresses future results or expectations is considered “forward-looking” information within the definition of the Federal securities laws. Forward-looking information in this document can be identified through the use of words such as “may,” “will,” “intend,” “plan,” “project,” “expect,” “anticipate,” “should,” “would,” “believe,” “estimate,” “contemplate,” “possible,” and “point.” The forward-looking information is premised on many factors, some of which are outlined below. Actual consolidated results might differ materially from projected forward-looking information.
The forward-looking information and statements are or may be based on a series of projections and estimates and involve risks and uncertainties. These risks and uncertainties include such factors as: the level of consumer spending for luxury apparel and other merchandise carried by the Company and its ability to respond quickly to consumer trends; macroeconomic conditions and their effect on consumer spending; the Company's ability to secure adequate financing; adequate and stable sources of merchandise; the competitive pricing environment within the retail sector; the effectiveness of planned advertising, marketing, and promotional campaigns; favorable customer response to relationship marketing efforts of proprietary credit card loyalty programs; appropriate inventory management; effective expense control; successful operation of the Company's proprietary credit card strategic alliance with Capital One Financial Corporation; geo-political risks; weather conditions and natural disasters; the performance of the financial markets; changes in interest rates; and fluctuations in foreign currency and exchange rates. For additional information regarding these and other risk factors, please refer to the Company's filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended February 2, 2013, its Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K, which may be accessed via the Internet at www.sec.gov .
The Company undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events, or otherwise.
Saks Fifth Avenue OFF 5TH
Jenny Dong, 212-451-1931
Molly Ellingson, 212-320-4719
Julia Bentley, 865-981-6243
SVP Investor Relations