Macy's Inc. (M) Announces Plans To Open FAO Schwarz Stores in Macy's
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Macy's, Inc. (NYSE: M) and FAO Schwarz signed an exclusive agreement under which FAO Schwarz will open FAO-operated toy stores in up to 275 Macy's stores in fall 2008.
FAO Schwarz stores are planned to expand into a total of approximately 685 Macy's stores over the next two years.
In fall 2008, full-size FAO Schwarz shops of between 1,000 and 3,500 square feet will open in approximately 75 Macy's locations across the country. Another approximately 200 Macy's stores will host smaller FAO Schwarz departments of between 200 and 300 square feet. Plans also call for FAO Schwarz products to be sold on macys.com.
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