This expansion is in addition to the nearly 15 small-format Macy’s and Bloomie’s locations that Macy’s currently operates. Paired with a premier digital experience, these small-format stores enhance the company’s store portfolio with a mix of the best on- and off-mall locations, to deliver a seamless shopping experience across channels.

“We are excited to accelerate the expansion of our small-format strategy as we continue to innovate and reposition our store portfolio to better serve our customers,” said Adrian Mitchell, chief operating officer and chief financial officer for Macy’s. “Our small-format stores are efficient to operate, provide the customer with a shopping alternative within our omni-channel ecosystem and present a unique opportunity to target high-traffic shopping centres. Our small-format strategy is one way we intend to harness the full power of the Macy’s brand to deliver sustainable, profitable sales growth for Macy’s, beginning in 2024.”

Bloomie’s, the smaller store concept by Bloomingdale's, which provides a casual, contemporary and highly curated experience for shoppers, recently announced its inaugural West Coast location in Seattle, Washington set to open in November. This will be the third Bloomie's location to open, adding to existing stores located in Fairfax, Virginia and the Chicagoland area. Bloomingdale’s intends to further expand its small-format store footprint in the future, the company said in a press release.

As one of Macy’s, Inc’s five growth vectors, small-format stores play a pivotal role in the company’s omni-channel strategy to expand in existing markets, enter new markets and maintain a presence in existing markets by replacing stores that may not be as productive. Macy’s small-format stores are strategically located in off-mall shopping centres to bring the brand closer to existing and desired customers while also encouraging more frequent visits. Year-to date through spring 2023, Macy’s small-format stores open for more than one fiscal have achieved positive comparable owned plus licensed sales growth.

“Over the past three years, we've gained valuable insight and have been methodical in our approach to our small-format stores,” said Marc Mastronardi, chief stores officer for Macy's. “We have taken the time to test and iterate a distinct shopping experience that focuses on convenience, curated merchandise, local events and services that have allowed us to cultivate a highly engaged customer base.”

Fibre2Fashion News Desk (RR)