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Why you’ll get even more discounts at Macy’s this year

February 24, 2015, 7:46 PM UTC
Shoppers Flock To Post-Christmas Sales
NEW YORK, NY - DECEMBER 26: People wait to cross the street after shopping at Macy's department store on December 26, 2012 in New York City. Shoppers flooded Manhattan stores for post-Christmas deals throughout the day. (Photo by Andrew Burton/Getty Images)
Photograph by Andrew Burton — Getty Images

Take heed, discount shoppers — Macy’s will soon have new stores designed just for you.

In a conference call Tuesday, the department store chain talked about opening “off-price” stores to sell returned goods and cancelled orders at a lower price point than normal Macy’s stores, according to Reuters.

Macy’s first hinted at these stores, designed to compete with chains like T.J. Maxx and Nordstrom Rack, last month. Macy’s is boosting its spending by 6% to $1.2 billion to open the discount shops.

The “off-price” retail space has been growing in recent years as shoppers look for designer goods at cheaper prices.