Macy’s, Inc. Completes Bluemercury Acquisition
10 March 2015 - 6:28AM
Business Wire
Macy’s, Inc. (NYSE:M) today announced the completion of its
previously announced acquisition of Bluemercury, Inc., widely
recognized as America’s largest and fastest-growing luxury beauty
products and spa services retailer, for $210 million in cash.
Bluemercury, based in Washington, D.C., currently operates about
60 specialty stores in 18 states, typically in prime street-level
locations and urban lifestyle centers, as well as an online
business. Macy’s, Inc. plans to operate and significantly expand
Bluemercury stand-alone specialty stores, enhance its online
capabilities and add selected Bluemercury boutiques and
private-brand products to Macy’s stores nationwide over time.
Bluemercury will continue to be led by Marla Malcolm Beck, chief
executive officer, and Barry Beck, chief operating officer, who
co-founded the company in 1999. Its team of approximately 500
associates will remain in their current roles operating a
stand-alone Bluemercury specialty business.
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)
Macy’s, Inc.Media - Jim Sluzewski, 513-579-7764orInvestor - Matt
Stautberg, 513-579-7780
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