22 February 2021
The Weekly
United States

Business softened at the start of the fourth quarter but ramped up during the prime holiday shopping season. During this period, digital demand represented nearly 60% of owned business for this period. ​The decision to delay the designer sale break was successful in driving more full-price selling. Since the Hudson’s Bay went private in February 2020, no financial figures on Saks or the other HBC divisions are released publicly. Traffic at Saks Fifth Avenue stores continued to be down overall last quarter; the two Toronto locations temporarily closed due to government orders and New York experienced challenges, which may be attributed to the ongoing pandemic and a continued decline in tourism. However, key markets such as Detroit, Atlanta, Boca Raton and Philadelphia were up double digits to 2019.