Bloomingdale's (NYSE:M) is opening its most fashion-forward outlet store in New York City this weekend with a number of unique features tailored to a younger, more contemporary shopper, including on-site tailoring services.
The three-level, 25,000 sq. ft. store on Manhattan's West Side was once an Urban Outfitters. Although Bloomingdale's has an outlet in the city's Soho neighborhood, Tony Spring, Bloomingdale's chairman and CEO, considers this the retailer's first, true urban outlet, according to Women's Wear Daily.
There's an emphasis on contemporary brands with 60 to 70 percent off merchandise obtained through opportunistic buys from vendors; 20 percent is clearance from Bloomingdale's regular stores, and 10 to 20 percent is made specifically for the outlets, WWD reported.
It's the first Bloomindale's outlet to sell cosmetics, and there will be a yogurt bar on the second level, operated by 40 Carrots, a concept expanding within Bloomingdale's stores and outlets.
Off-price and discount outlets from department stores are growing at a rapid clip in an effort to capture a younger shopper. Bloomingdale's now operates 16 such stores, two opened this month in Philadelphia and San Diego. Earlier this week, Hudson's Bay Co. announced a new Saks Off 5th store, Macy's is betting on its new Backstage off-price format, and Nordstrom continues to grow The Rack.
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