Macy’s Inc. announced on Tuesday plans to extend its small-format store network, in a move that could triple the total number of its small-format stores through fall 2025.
Beginning 2024, the U.S. department store giant said it plans to open 30 new Macy’s small-format locations across the country. Geographic locations and timing details are yet to be disclosed.
Macy’s small-format stores offer a convenient shopping experience in an open environment that is roughly 1/5 the size of the full-line stores, according to a press release, and offer shoppers a curated selection of products.
“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.”
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, according to the company.
“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.”
Macy’s Inc. currently operates some 15 small-format Macy’s and Bloomie’s locations in the U.S. Most recently, the company announced on Monday the opening of its first Bloomie’s store in Seattle, slated to make its debut this November.
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