Macy's Buys a Spa Chain
Macy's Inc. is buying luxury beauty products and spa service retailer Bluemercury Inc. for $210 million in cash, a move that would give it a number of spas. The retailer said it expects the acquisition to be accretive to earnings starting in fiscal 2016. Washington D.C.-based Bluemercury operates 60 specialty stores in 18 states, typically in prime street-level locations and urban lifestyle centers. Most locations also include in-house spas. The company has roughly 500 associates, all expected to remain in place in their current roles. In a statement, Macy's said beauty is a core business for Macy's and Bloomingdale's and that the Bluemercury buy will add "new dimensions" to its product offering and omnichannel strategy.
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