Saks Fifth Avenue OFF 5TH Reveals Its First Canadian Store Locations

Saks Fifth Avenue OFF 5TH is excited to reveal its first three store locations in Canada as it prepares to enter the Canadian marketplace next year. Three Ontario cities - Ottawa, Niagara-on-the-Lake, and Vaughan (just north of Toronto) - will welcome Saks Fifth Avenue OFF 5TH stores in spring 2016. This much–anticipated announcement identifies the first of up to 25 locations that Saks Fifth Avenue OFF 5TH plans to open nationwide.

Tanger Outlets, Ottawa, Ontario

The 28,000 sq. ft. Saks Fifth Avenue OFF 5TH Ottawa will be located at Tanger Outlets in Kanata. As the first outlet mall in area, the centre will deliver a new shopping experience and meet the needs of shoppers in the region that have previously had to travel to outlet shop. The centre has already seen strong customer demand and become a key shopping destination for both Ottawa residents and visitors to the nation’s capital, making it a great location to introduce the OFF 5TH brand to the Ottawa market.

Outlet Collection at Niagara, Niagara-on-the-Lake, ON

Strategically located by the QEW in Niagara-on-the-Lake, Outlet Collection at Niagara is the perfect home for the 32,500 sq. ft. Saks Fifth Avenue OFF 5TH. The Niagara market has already proven to be strong for OFF 5TH, with a location on the U.S. side of the Niagara Falls border as well that was opened in 2014, replacing an old-format store in the same shopping centre. Not yet open a year the centre has already begun its first expansion, further confirming its success in the market.

Vaughan Mills, Vaughan, ON

Located at Vaughan Mills, this new 35,000 sq. ft. Saks OFF 5TH location will cater to the Greater Toronto Area. A designated tourist attraction, Vaughan Mills welcomes approx. 13 million visitors a year and captures the best attributes of a super-regional centre, an outlet centre and an entertainment venue. In October 2014, Vaughan Mills completed an expansion project adding 50 new stores to its retail mix for a total of 1.3 million sq. ft.

“We are extremely excited to be growing the Saks Fifth Avenue OFF 5TH brand by opening our doors to the fashionable residents of Canada,” stated Jonathan Greller, President of Outlets, HBC. “We have long recognized the tremendous opportunity that the off-price segment represents in Canada and today marks a significant milestone for us. We believe that the incredible product, modern store environment and the great deals that we are known for will truly delight and resonate with Canadian shoppers.”

Saks Fifth Avenue OFF 5TH is proud to be a premier luxury-value destination for designer fashion, with more than 800 brands in store, all at amazing prices every day. With new arrivals shipped to the store weekly, customers will discover new and exciting merchandise, including direct-from-the-runway designer finds, with each and every visit. The Canadian stores will align with the redesigned Saks Fifth Avenue OFF 5TH aesthetic, featuring an open and modern modular layout, in an easy to shop ‘treasure hunt’ environment.

Vaughan Mills and Outlet Collection at Niagara are owned and managed shopping centres of Ivanhoé Cambridge Inc. Tanger Outlets is co-owned by Tanger Outlet Factory Centers, Inc. and RioCan Real Estate Investment Trust. For updates on store opening, marketing events and career opportunities, Canadians can visit saksoff5th.ca.

ABOUT SAKS FIFTH AVENUE OFF 5TH

As part of the Hudson’s Bay Company brand portfolio, Saks Fifth Avenue OFF 5TH is a world-class destination for true fashion at extraordinary value. The retailer’s 81 stores and e-commerce site, saksoff5th.com, combine the two great joys of shopping: the delight of discovering the best in luxury and the thrill of finding a deal. A sophisticated shopping experience of carefully curated off-the-runway trends, exceptional service, and savings on the biggest names in fashion, Saks Fifth Avenue OFF 5TH leads the market as the premier luxury-value destination.

ABOUT HUDSON’S BAY COMPANY

Hudson's Bay Company, founded in 1670, is North America's oldest 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, two outlet stores 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 81 U.S. stores and saksoff5th.com. The Company also operates Home Outfitters, Canada's largest kitchen, bed and bath specialty superstore with 67 locations. Hudson’s Bay Company trades on the Toronto Stock Exchange under the symbol “HBC”.

ABOUT IVANHOÉ CAMBRIDGE INC.

Ivanhoé Cambridge Inc. leverages its broad expertise, investing in, operating and developing real estate properties and companies to deliver optimal returns for its investors. Through multiple subsidiaries and partnerships, Ivanhoé Cambridge Inc. holds assets located mainly in Canada, the United States, Europe, Brazil, Mexico and Asia, which totalled more than Cdn$42 billion as at December 31, 2014. Ivanhoé Cambridge Inc. is a real estate subsidiary of the Caisse de dépôt et placement du Québec (lacaisse.com), one of Canada's leading institutional fund managers. For further information: ivanhoecambridge.com.

ABOUT TANGER FACTORY OUTLET CENTERS, INC.

Tanger Factory Outlet Centers, Inc. (NYSE: TCO) is a publicly-traded REIT that operates and owns a portfolio of 45 upscale outlet shopping centers in 24 states coast to coast and in Canada, totaling approximately 13.7 million square feet leased to over 2,800 stores operated by more than 440 different brand name companies. With 3 more locations currently in development, Tanger Factory Outlet Centers attracts 185 million shoppers annually. Tanger is headquartered in Greensboro, North Carolina. www.tangeroutlet.com.

ABOUT RIOCAN

RioCan is Canada's largest real estate investment trust with a total enterprise value of approximately $16.2 billion as at March 31, 2015. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 353 retail properties containing more than 79 million square feet, including 48 grocery anchored and new format retail centres containing 13 million square feet in the United States as at March 31, 2015. RioCan’s portfolio also includes 15 properties under development in Canada. For further information, please refer to RioCan's website at www.riocan.com.