CNBC's Courtney Reagan speaks with former Saks CEO Steve Sadove; former Toys"R"Us CEO Jerry Storch; former Bloomingdale's CEO Michael Gould; and former Sears Canada CEO Mark Cohen about the outlook for retail.
New York -- Marvin S. Traub, Bloomingdale’s president and CEO for 22 years, died Wednesday at age 87. Traub had suffered from bladder cancer. Traub is credited with turning the Bloomingdale’s Manhattan flagship – at Lexington and 59th – into a showcase. He started as a merchandising manager in 1962, and was named president in 1969. “Blessed with enormous energy, he will always be remembered for the devotion he gave to our store for the last 62 years,” current CEO and chairman Michael Gould said in an e-mail to employees. “Marvin took great pride in all of those that
Department store giant Bloomingdale's announced it will open three outlet stores this fall. The stores will be located at the Miromar Outlets in Estero, Fla.; Wrentham Village Premium Outlets in Wrentham, Mass.; and Woodfield Village Green in Schaumburg, Ill.
d Macy’s Inc. recently announced plans for three new Bloomingdale’s Outlet stores, which are slated to open in fall 2011. The new outlet stores will join the first four Bloomingdale’s Outlet stores that opened in fall 2010, when the concept was launched. “Our first four outlet stores have helped us to learn this business and refine our merchandising and in-store presentation," said Michael Gould, chairman and CEO of Bloomingdale’s. "We continue to see opportunity for growth, and these three new locations will help us to extend the geographic reach of Bloomingdale’s Outlets and introduce the concept to new customers."
To lure value-conscious shoppers away from competitors' outlet stores, upscale department store Bloomingdale's plans to launch four outlet stores this summer and fall.