Bloomingdale’s 520,000-square-foot New York flagship is undergoing a 100,000-square-foot renovation to update the bridge, contemporary, home, shoes and jewelry departments of its designer floor. The project is estimated to cost $50 million, reports Women’s Wear Daily.
“In our 20 years at the store, we have never had this much square footage under construction at one time,” says Michael Gould, Bloomingdale’s chairman and ceo, in the WWD article.
The flagship generated more than $600 million in annual sales last year, or about $1200 per square foot.