Headlines

Macy’s Focuses on Off-Mall Expansion

Macy’s (New York) is looking at smaller, off-mall stores as its future growth vehicle, CNBC reports. The retailer has opened 10 locations in strip centers — mini-versions of its namesake stores and Bloomingdale’s — and plans to add five more this fiscal year. The shops, called Market by Macy’s and Bloomie’s, are about a fifth the size of the retailer’s typical Macy’s and Bloomingdale’s department stores.

This year will be pivotal for the strategy, CEO Jeff Gennette said in a CNBC interview. The retailer will wrap up the test-and-learn phase of the stores and decide on expansion plans by year-end, he said.

“The hope is that we’re going to have a model that we’re going to be able to scale more aggressively in 2024 and beyond,” Gennette said in a call with investors in March. “We’re very bullish on the concept. We’re very bullish on the early learnings. The size, the locations are all working.”

The retailer has not announced the locations of the four planned Market by Macy’s stores, but said the additional Bloomie’s store will be in Seattle.

INSTORE Staff

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

Recent Posts

Trade Show Safety Tips and Preparedness

Attendees and exhibitors must be ready and prepared for potential safety and loss risks that…

6 hours ago

Consumers Detail Memorial Day Shopping Plans

Higher prices not expected to put a damper on most celebrations.

8 hours ago

Bottom Line Marketing Now Offers AI-Driven Location Services & Custom Shopify Jewelry Websites

BLM uses the latest technology to spark growth for clients.

8 hours ago

Bottom Line Marketing Makes Moves in 2023

Ad agency appoints new leadership & offers full range of services.

8 hours ago

Las Vegas Jewelry Trends: Fringe and Mesh Sway With Tactile Movement

Necklaces and earrings take their cue from open weave textures and mesh for this trend.

9 hours ago

Want to Jumpstart Your Business Growth? Register for The Brain Trust Workshop

The full-day workshop featuring INSTORE columnists will take place August 12 in Rosemont, IL.

9 hours ago

This website uses cookies.