Department stores operator, Macy's, Inc. (M) Thursday said it plans to launch a new Bloomingdale's Outlet store concept in 2010. The company expects to open four new Bloomingdale's Outlets, each about 25,000 square feet in the summer or fall of 2010, subject to final lease agreements.
Cincinnati, Ohio-based Macy's plans to open the outlets in Bergen Town Center, New Jersey; Potomac Mills,VA and two in Florida based Dolphin Mall,and Sawgrass Mills. The company expects to expand the Bloomingdale's Outlet stores to selected locations across the country in 2011 and beyond.
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.
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. Macy also operates macys.com and bloomingdales.com.
Macy's also stated that Arnold Orlick, a former division principal of Federated Department Stores, 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, New York and later served as a senior merchandising executive at Robinson's Los Angeles, a division of the former May Department Stores. Recently, Orlick was teaching retailing at Fashion Institute of Technology and was a consultant to the industry. He was previously the chairman and chief executive officer of Fortunoff.
M is currently trading at $15.90, down $0.54 or 3.28%,on a volume of 10.92 million on the NYSE.
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