Macy’s accelerating growth of its off-mall, small-format store strategy
Macy’s is putting its new store strategy on a faster track.
The department store retailer is speeding up its plans to open smaller-sized stores that are not located in traditional enclosed malls. Macy’s plans to open four off-mall, small-format stores and close one traditional location this fall in line with its evolving real estate strategy.
“At Macy’s, we thrive on retail being a dynamic business requiring continuous analysis, reinvention and innovation,” said Marc Mastronardi, chief stores officer, Macy’s. “As customer preferences and buying behaviors change, we continue to evolve to deliver the experience our customers expect.”
The new stores include the opening of a Market by Macy’s, in Johns Creek Town Center, Suwanee, Ga.The Market concept will also make its debut in the St. Louis area at Chesterfield Commons, Chesterfield, Mo. (As part of Macy’s “ongoing assessment of its store portfolio,” the company has decided to close the Macy’s traditional location in the Chesterfield area.)
Market by Macy’s, which is about one-fifth the size of a traditional Macy’s, made its debut in 2020, at Southlake Town Square, Southlake, Texas. Four additional locations opened in 2021, at WestBend and Highlands at Flower Mound in the Dallas-Fort Worth area and Presidential Markets and South Point in the Atlanta metro area. By the end of 2022, Macy’s plans to expand Market by Macy’s to a total of eight locations.
Also this fall, Macy’s will unveil the first-ever dual Market by Macy’s and Macy’s Backstage store, at Evergreen Park, Ill. The two formats will be housed under one roof. Customers can shop at both stores all under one roof, with Market by Macy’s on the first floor and the off-price Backstage on the second floor.
Since 2015, Macy’s Backstage has expanded to more than 300 Macy’s stores nationwide, including nine freestanding locations. The newest Backstage freestanding location opened in the spring, at Grapevine Mills, Grapevine, Texas.
[Read More: Macy’s to open more off-price concept locations]
“As exciting brand extensions, Market by Macy’s and Macy’s Backstage each offer unique shopping experiences – one celebrates discovery and convenience, while the other appeals to the customer who loves the thrill of the hunt for a great value,” said Mastronardi.
As of April 30, Macy’s operated 511 namesake stores, 55 Bloomingdale’s locations and 160 Bluemercury stores.