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 concept is exportable internationally, Spring said, “Our focus is on the opportunity in the U.S. and in markets where we have opportunity for growth. At 14 stores, we have plenty of room to explore.”
Bloomingdale’s Outlets offer 35 to 70 percent off full price for brands such as Michael Kors, Calvin Klein, Coach and True Religion.
“The merchandise of the outlets is a composition of great opportunistic buys from the market and from merchandise that is transferred after the regular selling season from our stores,” Spring said. “Ninety percent of our brand and assortment mix in the outlets is comparable to our full-line store. The merchandise is bought directly from manufacturers or transferred from our stores, including Bloomingdale’s own exclusive brands.”
Spring said Bloomingdale’s will also manufacture products for the outlets. “We expect over time to be able to offer additional merchandise that is exclusive to the outlets,” he said.
The Broadway outlet will be located at one of the busiest intersections in Manhattan, with a major subway located footsteps away. “This is a premier, flagship location for Bloomingdale’s Outlet,” Spring said.