Macy's Inc. Adjusts Store Count

CINCINNATI-Macy's Inc. has announced a number of Macy's and Bloomingdale's store closings and openings. The six store closings will begin this month, while the nine new and replacement stores will open throughout this year and 2014.

"We remain committed to operating a successful and growing stores business as part of our company's Omnichannel strategy for serving customers wherever, whenever and however they prefer to shop," said Karen M. Hoguet, chief financial officer of Macy's, Inc. "This leads us to open new stores where we see the opportunity to fill gaps in important markets, as well as to make the tough decision to selectively close underperforming stores that no longer meet our performance requirements or where leases are not being renewed."

Once all of these changes have been implemented, Macy's will operate 798 stores in 45 states, the District of Columbia, Puerto Rico and Guam. Bloomingdale's will have a total of 37 full-line and home stores, as well as 13 Bloomingdale's Outlet stores. Bloomingdale's also operates in Dubai under a license agreement with Al Tayer Group LLC.

The stores to be closed include the Bloomingdale's Fashion Show Home Store in Las Vegas; and Macy's stores in the Paseo Colorado shopping center in Pasadena, Calif.; Belmont, Mass.; Downtown Honolulu, Hawaii; Downtown St. Paul, Minn.; Downtown Houston, Texas. Associates displaced by store closings may be offered positions in nearby stores where possible. Eligible full-time and part-time associates who are laid off due to the store closing will be offered severance benefits, the company said.

As previously announced, nine new and replacement Macy's and Bloomingdale's stores are currently planned or are under construction. One new Bloomingdale's Outlet store is being announced today.

New Macy's stores will be opening in Mall of Victor Valley, Victorville, Calif.; Gurnee Mills, Gurnee, Ill.; Mall at Bay Plaza, The Bronx, N.Y.; University Town Center, Sarasota, Fla.; and Shops at Summerlin, Las Vegas. An all-new Macy's store is being built in Westfield South Shore in Bay Shore, N.Y. to replace an older store in the same shopping center.

Macy's is expanding its presence in Fashion Show in Las Vegas with a new Macy's Men's Store and a remodeled main store. A new Bloomingdale's store is being built in Glendale Galleria in Glendale, Calif. In addition, an all-new Bloomingdale's is being built in Stanford Shopping Center in Palo Alto, Calif. to replace an older store in the same shopping center.

A new Bloomingdale's Outlet store will open in fall 2013 in Fashion Outlets Chicago now being built in Rosemont, Ill. This new location will bring to 13 the total number of Bloomingdale's Outlets, a new concept launched in fall 2010.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.


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