Joining the ranks of retailers with stores devoted to selling excess inventory at bargain-basement prices, R.H. Macy & Co. has announced it will open five clearance stores in outlet malls or free-standing locations around the country.
A company spokesman said yesterday that Macy's had based its decision on the success of its six warehouse clearance centers. But unlike those clearance centers, which are typically near Macy's regular stores, the new close-out stores will be in outlet malls, which have been gaining popularity among shoppers.
The spokesman declined to say where the first five stores would be located. But Kris Hundley, managing editor of Value Retail News, said Macy's has leased 26,000 square feet in Potomac Mills, a large outlet mall south of Washington.
Confirming earlier reports, Macy's also said it will reorganize its 120 department stores into two regional divisions by February. It now has three regional divisions.