Macy’s, Inc. (NYSE:M) today announced that it has signed an agreement
with Men’s Wearhouse to open licensed tuxedo rental shops within 300
Macy’s stores nationwide.
These Macy’s-branded shops will be operated by Men’s Wearhouse and
staffed by its trained formalwear professionals in dedicated space
located in or near the men’s department in Macy’s stores. They will be
fully integrated in Macy’s storewide wedding experience, and support
Millennial merchandising strategies related to proms and other special
occasions.
“Macy’s is better able than any other retailer to assist customers with
a broad range of needs related to special occasions, and especially
wedding couples, their families and friends at this significant
milestone period in life. Macy’s and Men’s Wearhouse will work together
to provide additional convenience and simplicity for our customers while
offering the latest trends in rental tuxedos, including prestige
designer brands and some styles exclusive to Macy’s. The customer
shopping experience will be enhanced by Men’s Wearhouse’s specialized
and expert service,” said Tim Baxter, Macy’s chief merchandising
officer. “We see weddings and special occasions as strategic growth
opportunities for Macy’s. We are already well known for our wedding and
gift registry, and we continue to build our business in engagement and
wedding rings, wedding party suits and dresses, shoes, accessories,
fashion jewelry, gifts and other categories. Tuxedo rental is the next
element in building Macy’s special occasion capability.”
Plans call for the first 17 Macy’s Tuxedo Shops to open in fall 2015 in
the New Jersey, San Francisco and Houston markets, with a rollout to 300
stores by fall 2016. Macy’s and Men’s Wearhouse also will collaborate to
develop a digital tuxedo rental shop on macys.com.
Macy’s Tuxedo Shops will be backed by the Men’s Wearhouse reservation
and group management system that allows customers to easily make and
manage reservations and track the status of rentals by others in a
wedding party.
Men’s Wearhouse will be the exclusive provider of tuxedo rentals to
Macy’s, although Macy’s will continue to sell tuxedos from its own men’s
assortment.
About Men’s Wearhouse
Founded in 1973, Men’s Wearhouse is one of North America's largest
specialty retailers of men's apparel with 1,758 stores. The Men’s
Wearhouse, Jos. A. Bank, Moores and K&G stores carry a full selection of
suits, sport coats, furnishings and accessories in exclusive and
non-exclusive merchandise brands and Men’s Wearhouse and Tux stores
carry a limited selection. Most K&G stores carry a full selection of
women’s apparel. Tuxedo rentals are available in the Men’s Wearhouse,
Jos. A. Bank, Moores and Men’s Wearhouse and Tux stores. Additionally,
Men’s Wearhouse operates a global corporate apparel and workwear group
consisting of Twin Hill in the United States and Dimensions, Alexandra
and Yaffy in the United Kingdom.
About Macy’s
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.
(NOTE: Additional information on Macy’s, Inc., including past news
releases, is available at www.macysinc.com/pressroom).
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