Macy’s Unveils Plan to Open up to 30 Small-Format Stores
03 Outubro 2023 - 9:00AM
Business Wire
An important milestone in the company’s
small-format strategy to deliver long-term sales growth
Macy's, Inc. (NYSE: M) today announced an accelerated expansion
of its small-format store strategy, potentially tripling the total
number of its small-format stores through fall 2025. Beginning in
2024, up to 30 new Macy’s small-format locations will open across
the country. This expansion is in addition to the nearly 15
small-format Macy’s and Bloomie’s locations that Macy’s, Inc.
currently operates. Paired with a premier digital experience, these
small-format stores enhance the company’s store portfolio with a
mix of the best on- and off-mall locations, to deliver a seamless
shopping experience across channels.
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Macy’s Unveils Plan to Open up to 30
Small-Format Stores (Photo: Business Wire)
“We are excited to accelerate the expansion of our small-format
strategy as we continue to innovate and reposition our store
portfolio to better serve our customers,” said Adrian Mitchell,
chief operating officer and chief financial officer for Macy’s,
Inc. “Our small-format stores are efficient to operate, provide the
customer with a shopping alternative within our omnichannel
ecosystem and present a unique opportunity to target high-traffic
shopping centers. Our small-format strategy is one way we intend to
harness the full power of the Macy’s brand to deliver sustainable,
profitable sales growth for Macy’s, Inc. beginning in 2024.”
Bloomie’s, the smaller store concept by Bloomingdale's, which
provides a casual, contemporary and highly curated experience for
shoppers, recently announced its inaugural West Coast location in
Seattle, Wash. set to open in November. This will be the third
Bloomie's location to open, adding to existing stores located in
Fairfax, Va. and the Chicagoland area. Bloomingdale’s intends to
further expand its small-format store footprint in the future.
Repositioning Store Portfolio to Meet Customer Demand
As one of Macy’s, Inc.’s five growth vectors, small-format
stores play a pivotal role in the company’s omnichannel strategy to
expand in existing markets, enter new markets and maintain a
presence in existing markets by replacing stores that may not be as
productive. Macy’s small-format stores are strategically located in
off-mall shopping centers to bring the brand closer to existing and
desired customers while also encouraging more frequent visits.
Year-to date through spring 2023, Macy’s small-format stores open
for more than one fiscal year have achieved positive comparable
owned plus licensed sales growth.
“Over the past three years, we've gained valuable insight and
have been methodical in our approach to our small-format stores,”
said Marc Mastronardi, chief stores officer for Macy's, Inc. “We
have taken the time to test and iterate a distinct shopping
experience that focuses on convenience, curated merchandise, local
events and services that have allowed us to cultivate a highly
engaged customer base.”
Convenient Shopping at Macy's Small-Format Stores
Macy's small-format stores offer a convenient and distinct
shopping experience in an open environment that is roughly 1/5 the
size of the full-line stores. Through a highly curated and
localized selection of Macy’s assortment, customers can shop a
compelling mix of both Macy’s private brands and sought-after
market brands. Customer feedback continues to remain high in areas
such as the physical store environment, ease of checkout and the
helpfulness and availability of colleagues. Macy's targets
locations in high-traffic centers where Macy’s unique products and
brands provide a differentiated shopping option.
Macy’s, Inc. Small-Format Growth:
Fiscal Year
Macy’s Small-Format
Locations
Bloomie’s Small-Format
Locations
2020
- Southlake (Dallas-Fort Worth)
- Westbend (Dallas-Fort Worth)
2021
- South Point (Atlanta)
- Presidential Markets (Atlanta)
- Highlands of Flower Mound (Dallas-Fort Worth)
2022
- John’s Creek Town Center (Atlanta)
- Evergreen Plaza (Chicago)
- Chesterfield Commons (St. Louis)
2023
- Highland Grove (Chicago)
- South Bay (Boston)
- Arroyo Market Square (Las Vegas)
- Santee Trolley Square (San Diego) *opening November 2023
- University Village (Seattle) *opening November 2023
Bringing the total number of Macy’s
small-format stores to 12 by the end of 2023.
Bringing the total number of Bloomie’s to
three by the end of 2023.
2024-2025
Opening up to 30 additional locations
through fall 2025 with geographic locations and timing details to
be disclosed in subsequent announcements.
To be announced.
Beginning in 2023, new Macy’s small-format stores will operate
under the iconic 'Macy's' nameplate. For a list of store locations
and hours, visit macys.com/macys and bloomingdales.com/c/bloomies.
Media assets can be found here.
About Macy’s, Inc.
At Macy’s, Inc. (NYSE: M), we are a trusted source for quality
brands at great values from off-price to luxury. Across our iconic
nameplates, including Macy’s, Bloomingdale’s and Bluemercury, we
help our customers express their unique style and celebrate special
moments, big and small. Headquartered in New York City, we operate
one of retail’s largest e-commerce businesses integrated with a
nationwide footprint to deliver the most convenient and seamless
shopping experience. Our purpose is to create a brighter future
with bold representation – so we can realize the full potential of
every one of us. For more information, visit macysinc.com.
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Media – Carolyn Ng Cohen / Stephanie Jimenez
communications@macys.com Investors – Pamela Quintiliano
investors@macys.com
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