Saks OFF 5TH, formerly Saks Fifth Avenue Off 5th, is an American off-price department store chain founded in 1990, and a sister brand to the luxury department store chain Saks Fifth Avenue. Both chains were owned by holding company Saks, Inc. until its acquisition by the Canadian-founded Hudson's Bay Company in 2013. Saks Off 5th grew throughout the United States before expanding into Canada in 2016. It competes with off-price department stores including Burlington, Macy's Backstage, Nordstrom Rack, Ross Dress for Less, and the TJX Companies.

Off-price is a trading format based on discount pricing. Off-price retailers are independent of manufacturers and buy large volumes of branded goods directly from them. The off-price retail model relies on the purchase of over-produced, or excess, branded goods at a lower price, thus being able to sell to consumers at a discount compared to other stores which purchased an initial run. Among the largest retailers of this type are TJX Companies and Ross Stores. The model is more common in countries that import fashion-oriented or household goods, as the discount role in producer countries is usually filled by factory outlets or small-scale open-air marketplaces.