Saks OFF 5th Closures Move Luxury Retail Spend Data

Saks Global plans to shut all but about a dozen of the roughly 70 Saks OFF 5TH locations as part of its bankruptcy restructuring. The remaining stores will largely function as clearance outlets to move unsold luxury inventory, as Saks refocuses on full-price luxury retail. Consumer Edge customer overlap data suggests that Nordstrom Rack is the most likely beneficiary, with the strongest affinity among Saks OFF 5th shoppers in the last 12 months. Saks OFF 5th shoppers are 8.2x more likely to shop at Nordstrom Rack than the average consumer, which significantly outpaces other off-price competitors such as Marshalls (3.1x), T.J. Maxx (2.8x), Burlington (2.4x), and Ross Stores (1.8x). This suggests that among off-price retailers, Nordstrom Rack may already have a built-in base with Saks Off 5th shoppers who may be looking for a new place to shop. While Shein had among the lowest affinity (1.9x) of this group, the fast-fashion retailer represents a different value proposition than traditional off-price department stores with its focus on trendy, ultra-low-priced apparel and an online-first model.

Share of wallet data reinforces Nordstrom Rack’s advantaged position to capture displaced Saks OFF 5th customers. Among shoppers who made at least one purchase at Saks OFF 5th in 2025, the retailer represented approximately 2.0-2.5% of these shoppers’ total spend, with Nordstrom Rack capturing an additional 0.7-0.9% of wallet. Looking at quarterly trends, Q2 2025 showed the strongest overall off-price engagement at roughly 4.5% combined share of wallet, before moderating slightly to 4.3% in Q3 and 4.2% in Q4. Among off-price competitors, Nordstrom Rack maintained the most consistent share throughout the year, while TJ Maxx saw modest gains in Q4 at the expense of Marshalls (both owned by TJX Companies). Burlington and Ross Stores remained relatively stable at smaller wallet shares. Given the strong affinity and existing wallet overlap, Nordstrom Rack appears to be in prime position to benefit from the Saks OFF 5th’s store closures, though TJX Companies’ brands (Marshalls and T.J. Maxx combined) collectively represent a meaningful opportunity as well.