Macy's Expands Small-Format Store Concept with New Locations
Macy's plans to open four more smaller stores in strip malls as part of its efforts to revitalize its brand and attract younger shoppers. The new locations, set to open in Boston, Las Vegas, San Diego, and suburban Indiana, will feature frequent merchandise swaps and host events. Macy's smaller stores have outperformed the company in recent quarters, with sales growth and better performance during the holiday season. The retailer has already tested this concept with 10 similar stores, some called Market by Macy's and others named Bloomie's. Macy's is also launching new private brands and implementing a three-year turnaround plan called Polaris.