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Federated Designates $100MM to DTC Biz
Federated Department stores is pouring $100 million into its direct-to-consumer business to support continued growth from its Macys.com, Bloomingdales.com, Macysweddingchannel.com and Bloomingdalesweddingchannel.com, as well as its Bloomingdale’s print catalog.
Online sales are continuing to grow as a result of the national expansion of Macy’s and Bloomingdale’s stores, chairman/president/CEO Terry Lundgren said in a statement (via Multichannel Merchant). Markets such as Illinois, Michigan, Minnesota, Missouri, Oklahoma, Texas and Utah are seeing exceptional growth, he added.
Federated‘s direct sales reached about $620 million last year, and the company expects to exceed $1 billion by 2008.
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