Macy’s CEO Jeff Gennette is bullish on his company’s Backstage off-price retail concept.
During a corporate governance conference hosted recently by The Deal, Gennette told TheStreet about Backstage, “We eventually hope to have one in every store.”
While Gennette did not further comment on future expansion of Backstage, Macy’s in early May announced it was opening a dedicated Backstage distribution center in Columbus, OH, in fall 2019. The retailer, which originally launched Backstage in the Northeast, has recently opened locations in the Northwest and Southeast for the first time.
Macy’s has opened approximately 20 Backstage locations in the first quarter of fiscal 2018 as part of its previously announced plan to open 100 locations within existing Macy’s stores in the current fiscal year.
Currently, Macy’s operates approximately 690 stores under either the Macy’s or Bloomingdale’s nameplate.