Macy's has lifted the lid off its new off-price business.
Just three months after telling investors it was exploring a strategy in the increasingly crowded space, the department store on Tuesday said it will open four "Macy's Backstage" locations in the metropolitan New York area this fall. (Tweet This)
The stores, which will average about 30,000 square feet, will be in Brooklyn, Queens, New Hyde Park and Huntington.
"We believe we can deliver a whole new level of value to customers who appreciate fashion and love to hunt for a bargain," Peter Sachse, Macy's chief innovation and business development officer, said in a news release.
Sachse emphasized that the stores will be viewed as "test and learn" locations, so that the retailer can tweak its strategy before further rolling out the concept.