Macy’s and Best Buy Partner to Test Consumer Electronics Departments in Macy’s Stores
September 08 2015 - 12:00PM
Business Wire
Macy’s, Inc. (NYSE:M) today announced it has signed an agreement
with Best Buy to test licensed consumer electronics departments in
10 Macy’s stores to open in early November 2015.
Plans call for Best Buy licensed shops of about 300 square feet
to open in Macy’s stores in various markets throughout the U.S.
The space will be staffed by Best Buy employees and feature
Samsung smartphones, tablets and smart watches, as well as audio
devices (including Bluetooth speakers and headphones) and
accessories (including cases, chargers and other peripherals) from
Samsung and other brands.
“We are delighted that consumer electronics will be returning to
selected Macy’s stores through this test, which will allow us to
learn how we can best serve our customers’ needs in this very
sophisticated category. Our customers have expressed interest in
electronics for self-purchase and gift-giving, and this
collaboration with Best Buy reinforces Macy’s as a shopping
destination throughout the year for the products that are most in
demand,” said Macy’s, Inc. President Jeff Gennette. “We will test
and learn, along with Best Buy, through the holidays and into 2016
before deciding on next steps.”
Macy’s, Inc., with corporate offices in Cincinnati and New York,
is one of the nation’s premier retailers, with fiscal 2014 sales of
$28.105 billion. The company operates about 885 stores in 45
states, the District of Columbia, Guam and Puerto Rico under the
names of Macy’s, Bloomingdale’s, Bloomingdale’s Outlet and
Bluemercury, as well as the macys.com, bloomingdales.com and
bluemercury.com websites. Bloomingdale’s in Dubai is operated by Al
Tayer Group LLC under a license agreement.
All statements in this press release that are not statements of
historical fact are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Such
statements are based upon the current beliefs and expectations of
Macy’s management and are subject to significant risks and
uncertainties. Actual results could differ materially from those
expressed in or implied by the forward-looking statements contained
in this release because of a variety of factors, including
conditions to, or changes in the timing of, proposed transactions,
prevailing interest rates and non-recurring charges, competitive
pressures from specialty stores, general merchandise stores,
off-price and discount stores, manufacturers’ outlets, the
Internet, mail-order catalogs and television shopping and general
consumer spending levels, including the impact of the availability
and level of consumer debt, the effect of weather and other factors
identified in documents filed by the company with the Securities
and Exchange Commission. In light of these risks and uncertainties,
readers are cautioned not to place undue reliance on
forward-looking statements. Except as may be required by applicable
law, Macy’s disclaims any obligation to update its forward-looking
statements for any reason.
(NOTE: Additional information on Macy’s, Inc., including past
news releases, is available at www.macysinc.com/pressroom).
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version on businesswire.com: http://www.businesswire.com/news/home/20150908006195/en/
Macy’s, Inc.Media - Jim Sluzewski, 513-579-7764orInvestor - Matt
Stautberg, 513-579-7780
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