Saks Fifth Avenue to Close Store in the Shops at Riverside in Hackensack, New Jersey

Saks Fifth Avenue announced today that it plans to close its Saks Fifth Avenue store located in the Shops at Riverside in Hackensack, New Jersey. The store is expected to close in late 2014.

“Closing a location is never an easy business decision. At this time, we are committed to offering support and assistance to our team affected by the closing,” commented Marigay McKee, President of Saks Fifth Avenue.

Approximately 105 associates are employed in this location. All affected associates will either be offered transfer opportunities or will receive appropriate employment separation packages.

Saks will continue to serve its Northern New Jersey customers in its Short Hills, New Jersey and New York City stores, as well as Saks.com.

ABOUT SAKS FIFTH AVENUE

Saks Fifth Avenue, one of the world’s pre-eminent specialty retailers, is renowned for its superlative American and international designer collections, its expertly edited assortment of handbags, shoes, jewelry, cosmetics and gifts, and the first-rate fashion expertise and exemplary client service of its Associates. As part of the Hudson’s Bay Company brand portfolio, Saks operates 39 full-line stores in 22 states, five international licensed stores, 80 Saks Fifth Avenue OFF 5TH stores and saks.com, the company’s online store.

About Hudson’s Bay Company

Hudson's Bay Company, founded in 1670, is North America's longest continually operated company. Today, HBC offers customers a range of retailing categories and shopping experiences primarily in the United States and Canada. Our leading banners – Hudson's Bay, Lord & Taylor, Saks Fifth Avenue and Saks Fifth Avenue OFF 5TH – offer a compelling assortment of apparel, accessories, shoes, beauty and home merchandise. Hudson’s Bay is Canada's most prominent department store with 90 full-line locations, one outlet store and thebay.com. Lord & Taylor operates 50 full-line locations primarily in the northeastern and mid-Atlantic U.S., four Lord & Taylor outlet locations and lordandtaylor.com. Saks Fifth Avenue, one of the world's pre-eminent luxury specialty retailers, comprises 39 U.S. stores, five international licensed stores and saks.com. OFF 5TH offers value-oriented merchandise through 80 U.S. stores and saksoff5th.com. Home Outfitters is Canada's largest kitchen, bed and bath specialty superstore with 69 locations. Hudson’s Bay Company trades on the Toronto Stock Exchange under the symbol “HBC”.