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Cincinnati -- Macy’s on Thursday announced what it described as “normal-course adjustments” to its portfolio of Macy’s and Bloomingdale’s stores that include shuttering six locations (all in early spring 2013) and opening nine others.
“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, CFO, Macy’s. “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.”
In addition to closing its Bloomingdale’s Fashion Show Home Store in Las Vegas, the company will close Macy’s stores in Paseo Colo., Pasadena, Calif.; Belmont, Mass., downtown Honolulu; downtown St Paul, Minn.; and downtown Houston.
As previously announced, nine new and replacement Macy’s and Bloomingdale’s stores are currently planned and/or under construction. New Macy’s stores will be opening in Mall of Victor Valley, Victorville, Calif. (to open spring 2013); Gurnee Mills, Gurnee, Ill.; Mall at Bay Plaza, The Bronx, N.Y. (fall 2014); University Town Center, Sarasota, Fla. (fall 2014); and Shops at Summerlin, Las Vegas, (fall 2014).
In addition, an all-new Macy’s store is being built in Westfield South Shore in Bay Shore, N.Y. (to open in fall 2013) to replace an older store in the same shopping center. And the retailer is expanding its presence in Fashion Show in Las Vegas with a new Macy’s Men’s Store (open in spring 2013) and a significantly remodeled main store.
A new Bloomingdale’s store is being built in Glendale Galleria in Glendale, Calif. (to open in fall 2013) and an all-new Bloomingdale’s is being built in Stanford Shopping Center in Palo Alto, Calif., (spring 2014) 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 under construction in Rosemont, Ill. The new location will bring to 13 the total number of Bloomingdale’s Outlets, a new concept launched in fall 2010. Four were opened in 2010, with another three added in 2011 and five added in 2012.
Macy’s on Thursday also announced the consolidation of its two separate stores in Ridgedale Center in Minnetonka, Minn., into the one expanded location beginning in early 2014. The current 202,000-sq.-ft. Macy’s main store will be expanded and upgraded by approximately 84,000 sq. ft., with construction beginning in June 2013. When the project is completed in early 2014, the men’s and home businesses currently in a separate building will move into the main Macy’s store.
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.