SAKS TO SPIN OFF WEBSITE:

Saks Fifth Avenue is spinning off its website into a separate company, with the hopes of expanding that business at a time when more people are shopping online. Shoppers won’t notice the change. The website will still carry the Saks name. And shoppers will still be able to buy online and pick up items at stores, as well as return online orders at there. HBC, the parent company of Saks, said Friday that the new company will focus on growing online sales by adding more products and services, such as styling. HBC said investor firm Insight Partners will buy a $500 million stake in the new online business, valuing it at $2 billion.

The Pacific Southwest Association of Realtors (PSAR) reports the San Diego County housing market kicked off the New Year in January 2021 with near-double-digit sales growth in a year-over-year comparison. Home sales in San Diego County in January 2021 were 9.9 percent higher compared to January 2020, but 31.7 percent lower compared to December 2020. PSAR said the most recent statistics from the California Association of Realtors showed statewide home sales were 22.5 percent higher in January 2021, compared to January 2020, but down 4.9 percent from December 2020 (484,730 units in January 2021; 395,700 units in January 2020; 509,750 units in December 2020). The year-over-year, statewide double-digit sales gain posted in January 2021 was the sixth consecutive month in a row.