Saks Fifth Avenue's Canadian debut has been hailed "a huge success".

Opening in February, Saks' flagship store in Toronto had one of the highest performing openings in the retailer's history, and the adjacent Hudson's Bay location has also seen a subsequent increase in traffic and sales.

HBC opened another Saks in Toronto's west end later that month and in March opened Canada's first four Saks Off Fifth outlets in Ontario.

Early sales results for Saks Off Fifth are also "on the very strong side," said HBC governor Richard Baker. "We have long believed that Canada is underpenetrated in the off-price marketplace," he said, adding the "Off Fifth investment presents a low risk and high opportunity for reward."