Paige Thomas Appointed President of Saks OFF 5TH
10 Februar 2020 - 10:35PM
Business Wire
Dedicated Leader to Continue to Propel
Off-Price Business
HBC (TSX: HBC) appointed Paige Thomas as President of Saks OFF
5TH, effective immediately. Ms. Thomas is a highly-regarded,
results-oriented executive, with extensive experience growing and
leading retail businesses, particularly in the off-price
segment.
“Paige has a proven track record of achieving aggressive growth
within off-price retail through superior cross-channel customer
experiences,” said Helena Foulkes, CEO, HBC. “With her deep
merchandising background and instinct to quickly capitalize on
digital opportunities, I believe Paige is the right leader to
further evolve Saks OFF 5TH and unleash its potential as a true
off-price retailer.”
Ms. Thomas, who reports to Ms. Foulkes, most recently served as
Executive Vice President, General Merchandise Manager, Full Price -
Men’s and Kids at Nordstrom, Inc. Prior to that, she held the
position of Executive Vice President, General Merchandise Manager,
Off-Price at the company for over five years. In this role, Ms.
Thomas drove the growth of Nordstrom Rack, successfully launching
its e-commerce site and leading its subsequent integration with
HauteLook onto a dual platform with shared inventory, as well as
centralizing merchandising teams across three locations.
Additionally, she oversaw the openings of over 100 stores. Prior to
Nordstrom, Ms. Thomas held merchandising leadership positions at
Kohl’s and Fred Meyer.
“Saks OFF 5TH is well-positioned in the off-price sector with a
strong digital platform, strategic store footprint and an exciting
assortment of luxury finds,” said Ms. Thomas. “There is significant
runway ahead for this business and I look forward to building on
the team’s strategy to provide customers with a best-in-class
experience, both in-store and online, and of-the-moment merchandise
they expect from a leading off-price retailer.”
Foulkes continued, “We have seen positive results from strategic
shifts in Saks OFF 5TH’s buying, marketing and service, including
three consecutive quarters of positive comparable sales, thanks in
large part to our successful digital channel. I am confident in the
opportunity for Saks OFF 5TH and believe now is the optimal time to
bring in a dedicated leader. With strong presidents at the helm of
HBC’s three distinct retail businesses, each is empowered to
execute on their strategies and deliver unique experiences for
their customers.”
With this appointment, Marc Metrick will fully focus on his role
as President of Saks Fifth Avenue, as planned since he assumed
leadership of Saks OFF 5TH in January 2018.
“I thank Marc for his leadership over the past two years and for
establishing a solid foundation for Saks OFF 5TH’s next chapter.
From the outset, Marc was committed to turning the business around
and setting it up for a dedicated leader, which I’m pleased he
accomplished faster than expected. With this transition, he will
double down on his tremendous leadership of Saks Fifth Avenue,
further capitalizing on its position in luxury and solidifying the
business as a category leader.”
About Saks OFF 5TH Saks OFF 5TH is a premier off-price
retailer featuring top designer brands at extraordinary value.
Featuring carefully curated off-the-runway trends and exceptional
service in-store and online, Saks OFF 5TH serves customers through
over 100 stores and on saksoff5th.com. Its merchandise offering
combines the two great joys of shopping: the delight of discovering
the best in luxury and the thrill of finding a deal centered on the
brand promise of “Saks Style for Less.”
About HBC HBC is a diversified retailer focused on
driving the performance of high-quality stores and their
omni-channel platforms and unlocking the value of real estate
holdings. Founded in 1670, HBC is the oldest company in North
America. HBC’s portfolio today includes formats ranging from luxury
to premium department stores to off price fashion shopping
destinations, with nearly 250 stores and approximately 30,000
employees around the world. HBC’s leading businesses across North
America include Saks Fifth Avenue, Hudson’s Bay, and Saks OFF 5TH.
HBC also has significant investments in real estate joint ventures.
It has partnered with Simon Property Group Inc. in the HBS Joint
Venture, which owns properties in the United States. In Canada, it
has partnered with RioCan Real Estate Investment Trust in the
RioCan-HBC Joint Venture.
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Email: jennifer.bewley@hbc.com
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