Macy’s [fortune-stock symbol=”M”] is fighting back against T.J. Maxx’s encroachment on its turf, finally launching a chain of smaller-format discount stores of its own.
The retailer, best known for its 100,000 square-foot department stores, said on Monday it would open the first four pilot “off-price stores”, to be called Macy’s Backstage, in the New York area in the fall. In January, Macy’s had said it was planning to open off-price stores but gave no details.
The Backstage stores will be about 30,000 square-feet in size, roughly the same as the average T.J. Maxx or Marshalls store, and will sell clearance goods from Macy’s 800 department stores, along with merchandise from top brands made specifically for the Backstage stores though at a fraction of their typical price.
Since the recession, off-price chains have been one of retail’s fastest growing area as shoppers gravitate toward designer brands at big discounts to department…
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