Macy’s chairman, president and chief executive officer Terry J Lundgren has revealed the first Bloomingdale’s store overseas - a 200,000 sq ft unit opened in February in Dubai and licensed to Al Tayer Insignia - is already contributing to corporate earnings. He also disclosed at the company’s AGM that the retailer was in talks about expanding into neighbouring countries in the Middle East.

Meanwhile, the retailer will introduce the banner to more US cities in its smaller 100,000 sq ft format. Lundgren said: “Bloomingdale’s has rebounded as a leading upscale retailer.”