Bloomingdale's Update (4/30/08)

Parties Agree to Further Study Remaining Issue

NEW YORK, NY, April 30, 2008 ... Bloomingdale's management and leaders of Local 3 of the Retail, Wholesale and Department Store Union (RWDSU) announced that they have reached a tentative agreement, subject to ratification by the membership on May 1, that eliminates any possibility of a strike being called against the retailer. The current contract is set to expire tonight. Once ratified, a new 4-year contract will be in effect pertaining to all but one issue - the health care plan. The sides have agreed to devote an additional two weeks, until midnight on Thursday, May 15, to study and analyze this complicated issue, which will be subject to future ratification.

Ida Torres, President of Local 3 RWDSU said: "Bloomingdale's and Local 3 have worked together since 1938 when the first contract was signed. Our relationship is one of mutual respect. Local 3 members work hard to make sure that Bloomingdale's 59th Street is like no other store in the world. The Union seeks to sign contracts that are fair and just to Bloomingdale's and to the workers. I believe we have succeeded in doing so again this year."

"When it became clear that the health care plan would take significantly more time to negotiate than remained before the contract deadline, Bloomingdale's and Union negotiators agreed that an additional two weeks of in-depth review was the most judicious move." said Anne Keating, senior vice president of public relations for Bloomingdale's. "Substantial work has been done to reach agreement on all the other issues pertaining to this contract; and we now look forward to continuing forthright, respectful talks on this final point."

Negotiations will resume today.