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|Macy's, Inc. to Open Bloomingdale's Outlet Stores|
|CINCINNATI, Jan 21, 2010 (BUSINESS WIRE) -- Macy's, Inc. (NYSE:M) today announced plans to launch a new
Bloomingdale's Outlet store concept in 2010.
Subject to final lease agreements, plans call for four new Bloomingdale's Outlets, each with approximately 25,000 square feet, to open in summer or fall 2010 in the following shopping centers with an upscale outlet store focus:
Additional Bloomingdale's Outlet stores are expected to roll out to selected locations across the country in 2011 and beyond.
"We have been studying the opportunities for entering the off-the-mall outlet business for some time, and the timing now is right given the consumer's particular focus on value in addition to fashion and quality," said Terry J. Lundgren, chairman, president and chief executive officer of Macy's, Inc. "The first Bloomingdale's Outlet stores will be in excellent, high-traffic locations. Our real estate developer partners have been very supportive and encouraging as we pursued this strategy."
"Bloomingdale's Outlet stores are an opportunity to expand our presence in new and existing markets, as well as to remove clearance from full-line Bloomingdale's stores in a timely manner," said Michael Gould, Bloomingdale's chairman and chief executive officer. "The customer experience in these stores will reflect the Bloomingdale's brand with a strong value message."
Bloomingdale's Outlet stores will offer a range of apparel and accessories, including women's ready-to-wear, men's, children's, women's shoes, fashion accessories, jewelry, handbags and intimate apparel.
Arnold Orlick, a former division principal of Federated Department Stores, Inc. (now Macy's, Inc.), will rejoin Bloomingdale's as senior vice president for outlet stores in a new role to lead and develop the outlet stores business.
Orlick began his career at Federated in 1969 as an executive trainee at the Abraham & Straus division in Brooklyn, NY, and later served as a senior merchandising executive at Robinson's Los Angeles, a division of the former May Department Stores. He joined Bloomingdale's in New York in 1992 as executive vice president responsible for merchandise areas including home, cosmetics and restaurant operations. He later became Bloomingdale's executive vice president and director of stores. In 1997, Orlick was named president (and later became chairman) of Federated's Rich's/Lazarus/Goldsmith's division in Atlanta. He was chairman and chief executive officer of Fortunoff from 2006 to 2008. Most recently, Orlick has taught retailing at the Fashion Institute of Technology and has been a consultant to the industry.
Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2008 sales of $24.9 billion. The company operates more than 840 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's and Bloomingdale's. The company also operates macys.com and bloomingdales.com. Prior to June 1, 2007, Macy's, Inc. was known as Federated Department Stores, Inc.
(NOTE: Additional information on Macy's, Inc., including past news releases, is available at www.macysinc.com/pressroom)
SOURCE: Macy's, Inc.
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