The outlet wars are heating up.
Macy’s Inc. has named its new discount stores Macy’s Backstage, and says the first four test stores will open this fall in New York City and the surrounding area.
The details, announced Tuesday, come four months after the department store chain announced it was exploring an “off-price” retailing business, throwing down the gauntlet with the likes of T.J. Maxx, Ross and Nordstrom Rack.
This would mark the first off-price business for the Macy’s brand. Meanwhile, the parent company is opening its 14th outlet store for its upscale chain Bloomingdale’s this fall in New York’s Manhattan borough. Macy’s, which generated annual sales of $28.1 billion in the latest fiscal year, expects total sales growth of just 1 percent this year.
