In Feb 2020 Macy's announced that 100 additional stores were due to receive upgrades, creating the Growth 250. I know that capex has decreased since then, but I'm wondering whether these stores are still planned for renovation.
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@bjxl+1bzLGQxN you forgot LED lightbulbs also. They made a big deal about LED lighting. Yea 21st century!
By growth, you mean paint and maybe carpet? Target, Kohls, and Walmart have rebuild their old stores multiple times and Macy's has done nothing. My closest Macy's is straight out of 1980 or even earlier.
What makes a store either inspirational or experiential?
Yes, “growth stores” are a thing of the past. Now it’s either you’re an “inspirational” store or an “experiential” store. Those are the two designations. Neighborhood stores are still neighborhood since those will all close most likely in February. There’s only what...maybe 70 neighborhood doors left to close?
We were also a second wave growth store but there was never a plan to put money in to renovations. It was all about adding jobs (we can’t hire in to), exceed profit margin (mba can’t track that and hiring and coach executives and train the few new hires we have and learn a new hiring system), basically you’re chosen to do more with less!
it was never about growth.. it was about which store will survive out of the fleet.. so instead of saying " this ship is sinking get out now " they are spinning it as if they are growing and this is amazing.. the only time you will grow at macys is when out clock out and never look back
Growth 50, Growth 250 plus 100 more, 53 stores are part of a pilot program, and some stores are none of these or are they something else - too confusing.
My store is a Growth 50 store, but it was selected to be part of the pilot program. This year 53 stores are part of the pilot program format. If the program is successful by February 2022, there's a possibility all stores will be part of this program.