Syms and Filene’s to open hybrid store

Big-box retailers Syms and Filene’s Basement have joined forces, with a new Fifth Avenue flagship store in the works combining the two brands, according to the New York Post. The store, known as fbSY, will take up an undisclosed amount of retail space on the corner of 43rd Street, and is estimated to open in the Spring. Syms purchased Filene’s last year for $55 million, after the discount retailer fell into bankruptcy. The new store will incorporate both brands’ discount angle, a Syms official said. [Post]