More Department Stores To Open Budget Extensions

More Department Stores To Open Budget Extensions
technology

With the dismal retail sales of the last few years, many high-end department stores have become desperate to clear out their unsold merchandise.

Laura Feinstein
  • 22 january 2010

With the dismal retail sales of the last few years, many high-end department stores have become desperate to clear out their unsold merchandise. This clearance-mania first manifested itself as a flood of sample sales, then as a glut of pop-up shops, but has now taken on a newer form: the outlet off-shoot. Recently, Nordstrom’s The Rack has done extremely well, outselling their parent company by 3% , and even announcing plans to take over the former Virgin Megastore space in Union Square.

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