Macy’s announces an ambitious plan to open 30 small-format stores across the U.S., tripling their presence by 2025. Discover how these compact stores offer convenience and curated selections, fueling Macy’s growth strategy.
Macy’s Inc. is embarking on a bold expansion initiative, with the potential to triple its small-format store network by the fall of 2025. Starting in 2024, Macy’s, the renowned U.S. department store giant, will introduce 30 new small-format Macy’s stores nationwide. While the specific locations and timing remain undisclosed, this move signifies a significant step in Macy’s growth strategy.
Macy’s small-format stores provide a convenient and curated shopping experience within an open environment. These compact stores occupy approximately 1/5th of the space compared to their full-line counterparts, offering a thoughtfully selected range of products to cater to diverse consumer preferences.
Adrian Mitchell, Chief Operating Officer, and Chief Financial Officer for Macy’s, Inc., expressed enthusiasm for this expansion, saying, «We are thrilled to accelerate our small-format strategy as part of our ongoing efforts to innovate and optimize our store portfolio for enhanced customer service.»
Mitchell emphasized, «Our small-format stores are operationally efficient and provide customers with an alternative shopping experience within our comprehensive omnichannel ecosystem. They represent a unique opportunity to target high-traffic shopping centers, underlining our commitment to unlocking the full potential of the Macy’s brand, driving sustainable and profitable sales growth for Macy’s, Inc. starting in 2024.»
Year-to-date through spring 2023, Macy’s small-format stores that have been in operation for more than one fiscal year have demonstrated robust growth in comparable owned plus licensed sales, according to the company.
Marc Mastronardi, Chief Stores Officer for Macy’s, Inc., highlighted the company’s meticulous approach to the small-format store concept. He explained, «Over the past three years, we’ve gathered invaluable insights and executed a deliberate strategy for our small-format stores.»
Mastronardi continued, «We’ve invested time in testing and refining a distinctive shopping experience, prioritizing convenience, curated merchandise, local events, and services. This approach has enabled us to cultivate a highly engaged customer base.»
Presently, Macy’s Inc. operates approximately 15 small-format Macy’s and Bloomie’s locations across the United States. It’s worth noting that the company recently unveiled plans for its first Bloomie’s store in Seattle, set to debut this November, marking yet another milestone in Macy’s ongoing expansion and commitment to innovation.