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Macy's opening Bloomingdale's Outlet stores

January 22, 2010

Cincinnati--Macy's Inc. has announced that it will launch a new Bloomingdale's Outlet concept in 2010, and that the stores' offerings will include jewelry, as well as apparel and other categories.

Bloomingdale's Chairman and Chief Executive Officer Michael Gould said in a press release issued earlier this week that the outlet stores will give Bloomingdale's the chance to expand into new and existing markets, and also provide a retail venue for clearance items from full-line Bloomingdale's stores.

According to the release, the plans, which are subject to lease agreements, call for four Bloomingdale's Outlets, each about 25,000 square feet in size, to open in summer or fall 2010 in shopping centers that have an "upscale outlet store focus."

The shopping centers that Macy's has chosen for the outlets are: Bergen Town Center in Paramus, N.J., Dolphin Mall in Miami, Potomac Mills in Woodbridge, Va., and Sawgrass Mills in Sunrise, Fla.

More Bloomingdale's Outlet stores are expected to roll out to selected shopping centers nationwide in 2011 and beyond, the release states.

Terry Lundgren, chairman, president and chief executive officer of Macy's, said the company has been studying the opportunities for entering the off-mall outlet business for some time.

"The timing now is right ,given the consumer's particular focus on value in addition to fashion and quality," he said. "The first Bloomingdale's Outlet stores will be in excellent, high-traffic locations."

In addition to jewelry, Bloomingdale's Outlet stores will carry women's ready-to-wear, men's, children's, women's shoes, fashion accessories, handbags and intimate apparel.

Arnold Orlick, a former division principal of Federated Department Stores  (which was renamed Macy's Inc.), will rejoin Bloomingdale's as senior vice president for outlet stores, according to the release.

Orlick began his career at Federated in 1969, and his long resume in retailing includes serving as chief executive officer of now-defunct Fortunoff from 2006 to 2008. Most recently, he taught retailing at New York's Fashion Institute of Technology.

With offices in Cincinnati and New York, Macy's operates more than 840 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names Macy's and Bloomingdale's. Fiscal 2008 sales for the company totaled $24.9 billion.
 
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