Retail giant Federated Department Stores Inc on Friday revealed plans to open a massive new Bloomingdale's store in New York City's SoHo district.

The company said work on the new 124,000 square foot store in the former Canal Jeans building at 540 Broadway will begin in the Spring, with a planned opening for Fall 2003.

The six-storey outlet will be Bloomingdale's second, and Federated's third, Manhattan-based store and offer a full range of collections of men's and women's apparel, cosmetics, shoes and accessories.

Bloomingdale’s chairman and CEO, Michael Gould, commented: "We are excited about extending the Bloomingdale's brand to a second location in New York City."

"SoHo is a premiere downtown location and the community surrounding the area is such a vital part of New York. We look forward to working with them in their many valuable endeavors."