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Retail Top 100 2012, No. 60: Bloomingdale's

July 11, 2012

Widely regarded as an endangered species a decade ago, high-end department stores, exemplified by the venerable Bloomingdales, are staging an impressive comeback by luring shoppers with exclusive, trendy items that appeal to Gen Y. Financial results at department stores are outpacing specialty retailers such as Gap and American Eagle Outfitters. In February, sales at department stores open at least a year rose 5.7 percent, versus a 3.2 percent gain for apparel stores, according to the International Council of Shopping Centers, continuing a trend that has prevailed for three quarters. Wall Street Strategies analyst Brian Sozzi has declared that the once-stodgy department stores are again a "credible destination for fashion." To further dispel any lingering stodginess in the air, this past fall, Bloomingdale's entered into a marketing partnership with NBC. One cross-promotional effort had Bloomingdale's 39 stores taking part in a virtual reality experience. Shoppers could stand in a certain spot in the store and snap photos of themselves using an iPhone app. Through augmented reality, they appeared to be standing on a red carpet with NBC stars such as Hank Azaria of "Free Agents" and Christina Applegate of "Up All Night." The hope was that shoppers would then share their photos on social networking sites.

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