*Rendering: Saks Fifth Avenue/Hudson's Bay Company*

American luxury retailer Saks Fifth Avenue will open a store at Calgary’s CF Chinook Centre in February of 2018, according to Saks President Marc Metrick. He made the announcement at Retail Council of Canada’s STORE Conference 2016 on the morning of Tuesday, May 31, in Toronto.

Saks will replace a former Target store in the Calgary mall. Target exited that location in the spring of 2015 and before that, the 115,500 square foot space was occupied by a Zellers store.

Saks will join Nordstrom and Hudson’s Bay as department store anchors at CF Chinook Centre. Nordstrom opened its first Canadian store in the mall in September of 2014, and Hudson’s Bay (owned by the same company as Saks) has seen interior improvements over the past couple of years, as well as the addition of more upscale brands.

CF Chinook Centre has also become increasingly upscale in recent years, adding tenants such as Burberry, Tesla Motors, Tiffany & Co. and Kate Spade. Later this year, Ted Baker will open its first Calgary store in the mall, and more upscale tenants are expected to follow now that Saks has announced its Calgary location.

*Lease plans, above and below, via Cadillac Fairview*

Saks will compete fiercely with Calgary’s 150,000 square foot Holt Renfrew, which is located downtown at The CORE. Holt’s is in the process of renovating and expanding that store, including the addition of luxurious personal shopping suites and a new restaurant.

Saks Fifth Avenue’s first Canadian stores opened in February of this year in Toronto. The 170,000 square foot CF Toronto Eaton Centre/Queen Street store opened on February 18, and a 143,000 square foot CF Sherway Gardens store followed on February 25. Hudson’s Bay Company has said that it is looking to eventually operate as many as eight full-priced Canadian Saks stores, with store announcements expected to be made for Vancouver and Montreal.

Calgary is also confirmed to be getting at least one of Saks’ off-price Saks OFF 5TH locations, at CrossIron Mills. It will be one of about 25 Canadian Saks OFF 5TH locations, according to owner Hudson’s Bay Company.

Canadian Retail News From Around The Web: June 1, 2016