OnDemand WTP Pricing Research

Macy’s betting on discount brand at mall near you | recordonline.com

TOWN OF WALLKILL – Orange Plaza Marshalls, meet the Galleria at Crystal Run Macy’s – the new-old competitor nearby that’s stealing pages from your playbook.

Come April 14, Macy’s will expand its off-price brand, Macy’s Backstage, carving out 20,200-square-feet on its second-floor to create a new store-within-a-store.

The new offering represents a major effort by America’s largest department store chain, which generated $24.8 billion in sales last year, to close the gap with discount retailer TJX Co., its Marshalls brand and their $35.9 billion in sales.

Just as Macy’s closes 100 stores, it’s adding 100 Backstage locations in 2018 to its total of 51, taking on off-price chains like Ross, Burlington, Nordstrom Rack, Saks Fifth Avenue Off 5th and Off-Aisle by Kohl’s.

“We’re excited to see such a longstanding and popular anchor changing things up by incorporating an innovative take on the traditional department store,” said Galleria spokesman Ethan Weber.

Off-price retailers have succeeded selling name-brand apparel and a hodgepodge of products like candy, home goods and consumer electronics, discounted up to 60 percent from full retail prices.

Macy’s Backstage offers the same features as other off-price retailers, while emphasizing hair and nail care, cosmetics and accessories like shoes, designer handbags and jewelry, said Michelle Israel, Macy’s senior vice president of off-price.

Read complete article here:

Macy’s betting on discount brand at mall near you – News – recordonline.com – Middletown, NY.

Post a Comment

WP-SpamFree by Pole Position Marketing