Macy's opening four smaller format stores outside malls this fall
The move is part of the department store chain's plans to shutter 125 on-mall Macy's locations by 2023
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Macy's will open four smaller format stores outside of malls later this fall as it looks to adapt to evolving consumer buying habits and preferences post-pandemic.
The department store chain will open its third Market by Macy's location in the metro Atlanta suburb of Suwanee, Georgia on August 20. Market by Macy's will also debut in St. Louis' Chesterfield Commons shopping center, replacing the area's current on-mall Macy's location.
In addition, the company will open the first dual Market by Macy’s and Macy’s Backstage store this fall in Chicagoland. Market by Macy's will be located on the first floor, while Macy's Backstage will be on the second floor.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| M | MACY'S INC. | 16.29 | +1.23 | +8.17% |
"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," Macy's chief stores officer Marc Mastronardi said in a statement.
In preparation for its expansion, Macy’s plans to hire approximately 20 to 60 employees for each store.
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Since 2015, Macy's Backstage has expanded to more than 300 Macy's stores nationwide including nine freestanding locations. The latest Backstage freestanding location opened last spring at Grapevine Mills in the Dallas-Fort Worth area.
Macy's Backstage location in Grapevine, TX on Saturday, May 14, 2022 (Brandon Wade/AP Images for Macy's) ((Brandon Wade/AP Images for Macy's))
Meanwhile, Market by Macy's debuted in 2020 at Southlake Town Square in the Dallas-Fort Worth area and expanded last year to the Presidential Markets and South Point shopping centers in Atlanta and WestBend and Highlands at Flower Mound shopping centers in the Dallas-Fort Worth area.
Market by Macy’s "off-mall" location within the Dallas-Fort Worth area in the WestBend lifestyle shopping center on Jan. 15, 2021 in Fort Worth, TX. (Brandon Wade/AP Images for Macy's Inc.) | AP Images
By the end of 2022, Macy’s plans to expand Market by Macy’s to eight total locations.
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The off-mall stores come as part of the company's broader Polaris strategy, which will shutter 125 Macy's stores in lower tier malls by 2023. When the plan was first announced in February 2020, Macy's said it would also cut roughly 2,000 corporate jobs and close several offices, including one of its headquarters.
In January, Macy's announced plans to close six Macy's on-mall stores as well as one Bloomingdale’s outlet store between February and May.
In addition to the smaller format Macy's stores, the retailer opened Bloomie's, a smaller format Bloomingdale's location, in July 2021.
Macy's operates more than 700 stores under the Macy’s, Bloomingdale’s and Bluemercury brands.