Macy’s Unveils Plan to Open up to 30 Small-Format Stores
- Accelerated expansion of small-format store strategy
- Up to 30 new locations to open in 2024
- Positive sales growth for small-format stores
- None.
An important milestone in the company’s small-format strategy to deliver long-term sales growth
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
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 |
|
|
2021 |
|
|
2022 |
|
|
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
View source version on businesswire.com: https://www.businesswire.com/news/home/20231003982143/en/
Media – Carolyn Ng Cohen / Stephanie Jimenez
communications@macys.com
Investors – Pamela Quintiliano
investors@macys.com
Source: Macy's, Inc.
