Saks Fifth Avenue To Open a Men's Store In New York City

Saks Fifth Avenue, the luxury retailer that's part of Hudson's Bay Co. , said it will open a men's department store in downtown New York City in spring 2017, the third Saks Fifth Avenue store in the city since the retailer launched in 1924. The store will be located in the Brookfield Place shopping and dining complex, blocks from One World Trade Center. The men's store, at 16,750 square feet, joins a previously announced 85,000-square-foot women's-focused Saks Fifth Avenue, also located at Brookfield Place, opening summer 2016. Hudson's Bay will also relocate its U.S. headquarters to the complex in August 2016, the company said in a release. Hudson's Bay shares are down 30% for the year so far. The S&P is down 1.6% for the same period.