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Macy's to house pop-up stores

Macy's Inc. launched a new marketplace concept that will allow the department store operator to house pop-up stores in select locations, CNBC reported Feb. 5, citing Marc Mastronardi, Macy's executive vice president of new business development and innovation.

The program, called "The Market @ Macy's", will let different brands and companies occupy space on the ground floor of a Macy's store to promote and sell products for as short as a month, the report said. The move would give customers new options and will also allow the Cincinnati-based chain to gain insights on customer preferences.

Companies and brands will pay a one-time fee for the space and retain all their sales, CNBC said. In addition, Macy's sales associates will reportedly work exclusively with the brands to serve their customers.

According to the report, The Market will launch on Feb. 12 in 10 cities, including Boston, Las Vegas, at the Herald Square flagship in New York and at Fort Lauderdale in Florida. The chain will reportedly assess the sales performance of the program after six months and decide on the next step then.