11/11/2023 0 Comments Lazarus macy department storesofficials said the rationale for opening smaller off-mall units is threefold: to enter markets where Macy’s Inc. “The consumer response has been really positive so far,” Mastronardi noted. They will be contributors to our growth as an omni ecosystem retailer.” He declined to specify any financial figures on the format, though the corporation in its announcement Tuesday did indicate that year-to date through spring 2023, Macy’s small-format stores open for more than one fiscal year have achieved positive comparable owned plus licensed sales growth. They will likely be renamed Macy’s.Īsked if the small format stores would be material to Macy’s Inc.’s financial results next year or in 2025, Mastronardi said, “Having 12 today and another 30 is starting to give us a bit of scale. He also said all new off-mall Macy’s units will simply be called Macy’s, whereas those that already opened have been under the Market by Macy’s banner. Mastronardi said scaled-down Macy’s units from start to finish take about a year to get up and running. He said the rollout strategy has flexibility, given the various types of settings where a smaller format could open. 2 in University Village in Seattle, marking Bloomingdale’s entry into the Pacific Northwest. They are still learning.” The third Bloomie’s is set to open on Nov. There are only two Bloomie’s and a third to come. At some point, the Bloomingdale’s team will speak to the future of Bloomie’s. “The 30 we are speaking to starting in 2024 are really geared at the Macy’s side of the conversation. “We are making progress,” Mastronardi said.
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