Saks Fifth Avenue, which received the ZIP code of 10022-7463 ("SHOE", on a U.S. touch-tone keypad) for the eighth-floor shoe department in its flagship Fifth Avenue store. The first Mexican store opened at the Centro Comercial Santa Fe in Mexico City, Mexico in November of 2007. Another store opened at Plaza Carso in 2010 this store closed in October 2020. Saks opened a location at the City Centre Mall in Manama, Bahrain in 2008, the store has two floors and is 57,000 square feet and was the third store opened in the Middle East and is currently the only Saks store in the Middle East. During the 2007–2009 recession, Saks Fifth Avenue had to cut prices and profit margins, thus according to Reuters "training shoppers to expect discounts. It took three years before it could start selling at closer to full price". A new international store opened in Almaty, Kazakhstan at 3 floors tall and 91,000 square feet the store is located at the Esenati Shopping Mall and licensed by the VILED Group, it is still in operation as of 2022. In 2012, the store in Riyadh owned by Prince Al Waleed bin Talal Al Saud closed after the licensing agreement expired in 2011. As of 2013, the New York flagship store, whose real estate value was estimated between $800 million and over $1 billion at the time, generated around 20% of Saks' annual sales at $620 million, with other stores being less profitable according to analysts. On July 29, 2013, the Hudson's Bay Company (HBC), the oldest commercial corporation in North America and owner of the competing chain Lord & Taylor, announced it would acquire Saks Fifth Avenue's parent company for US$2.9 billion. Plans called for up to seven Saks Fifth Avenues to open in major Canadian markets. In January 2014, HBC announced the first Saks store in Canada would occupy in its flagship Queen Street building in downtown Toronto, connected to the Toronto Eaton Centre via sky bridge. The store opened in February 2016 with a second Toronto area location in the Sherway Gardens shopping center opening in spring 2016. On February 22, 2018, Saks Fifth Avenue opened its third Canadian store in Calgary, Alberta. In 2015 Saks began a $250 million, three-year restoration of its Fifth Avenue flagship store. In October 2015, Saks announced a new location in Greenwich, Connecticut. In autumn 2015, Saks announced it would