NEW YORK — Federated Department Stores Inc. said today that it plans to invest $130 million over the next two years in infrastructure improvements and service enhancements to support its direct-to-consumer businesses.“Online sales represent the fastest-growing part of our business and an outstanding opportunity for continued progress as we serve millions of new customers nationwide through our acquisition of May Company,” said Terry Lundgren, chairman, president and chief executive officer, in a statement.The company said it expects direct-to-consumer sales to grow to more than $750 million by 2008 from about $450 million in 2005. The direct-to-consumer businesses include macys.com, bloomingdales.com, Bloomingdale’s by Mail, macysweddingchannel.com and bloomingdalesweddingchannel.com.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)