Macy's Inc. (M) and Luxottica Group S.p.A. (LUX) announced the signing of an agreement to open additional Sunglass Hut points of sale in about 430 Macy's department stores in the U.S. Sunglass Hut will be the exclusive operator of Macy's in-store sunglass departments when the rollout is complete. Macy's will be the exclusive U.S. department store with Sunglass Hut locations.
Together with 240 Sunglass Hut departments already operating in Macy's, this new agreement will bring the total number of in-store Sunglass Hut locations to about 670. New locations, which will operate as leased departments, will begin rolling out in Spring 2010, with completion scheduled for Spring 2011.
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