Thursday 5 March 2015

Bloomingdale’s to Open Manhattan Outlet

NEW YORK — Bloomingdale’s on Thursday confirmed that it will open a 25,000-square-foot outlet store at 2085 Broadway, on the northwest corner of 72nd Street. The Bloomingdale’s Outlet, which will open in the fall, will be the company’s first in Manhattan and the first in a major urban center. Bloomingdale’s, which operates 13 outlets in the U.S., lags behind competitors such as Nordstrom, Saks Fifth Avenue and Neiman Marcus in the sector. Nordstrom plans to grow its Rack off-price chain from 100 stores to more than 300 locations by 2022, and will begin opening Rack units in Canada in 2017. Saks Fifth Avenue has 79 Saks Off 5th stores in the U.S. and plans to open up to 25 in Canada. Neiman Marcus, which operates 38 Neiman Marcus Last Call outlets, has another off-price format, Last Call Studio, which is located in urban areas. “We see Bloomingdale’s Outlet as a growth vehicle for our company as we continue to refine and roll out stores based on our learnings over the past several years,” said Tony Spring, chairman and chief executive officer of Bloomingdale’s. “The growing outlet business is an exciting marketplace and part of the overall Bloomingdale’s strategy.” Asked whether the Bloomingdale’s Outlet

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