Just hearing about several new stores opening up! Not just "Marketplace At Macy's " but actually Macy's...brand new ones, from the ground up! These are smaller format stores, so does that mean the'll be closing the full larger ones once these get established?
4 replies (most recent on top)
I read they are continuing to open the smaller format stores but are just dropping the "Market by" from the name (so now they are just "Macy's"). Sort of like how Target rebranded the "City Target" locations and just call them Target now.
As far as closing big mall stores and opening up smaller ones nearby, I know they did that with Bloomingdales in Old Orchard, IL.
Macy's is so desperate right now.
They are adding NET positive stores. Macys is leaving any market not profitable.
The goal is to open smaller stores not necessarily in malls. They are also replacing registers this year which is a decent investment in all of that equipment.
You just answered your own question when you said "smaller format stores." Of course some of the larger stores will be closing.