05/31/2016 05:04 EDT | Updated 06/01/2017 01:12 EDT

Saks Fifth Avenue plans Calgary store opening for January 2018

TORONTO — Saks Fifth Avenue says it will open its third Canadian store in Calgary in January 2018.

The luxury retailer says the 115,00-square-foot Calgary store will be located in the city's Chinook Centre.

Saks has so far opened two stores in Canada, both in Toronto, and has said it plans to open up to seven stores across the country.

President Marc Metrick said the chain wants to open stores where the location is right, the customer base lives and the company is able to deliver a consistent Saks brand experience.

He said Calgary fits the criteria and is a logical next step in the company's Canadian expansion, even as the Alberta economy has struggled amid a protracted downturn in oil prices.

Saks opened its Toronto flagship location at the Eaton Centre earlier this year, followed by its Sherway Gardens location in Etobicoke, Ont.