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Macy's chooses small stores rather than shopping malls



The company said that they believe in the future of large shopping centers, but they are also aware of the great potential of small-format stores.
Macy's Herald Square

According to an official statement by CEO Jeff Gennett, the U.S. chain of department stores plans to open several small stores like Macy's, as well as one store Bloomingdale's. All of them will be part of an experiment in which the company plans to evaluate how successful such a format will be. At the same time, Macy's Backstage discounters will continue to develop.

No details have been reported yet. It is not known where exactly the points of sale for the new format will be opened. Most likely, the company itself has not yet determined the location and is in search.

According to Gennett, Macy's still believes in the bright future of large malls. He believes that the best of them will thrive even in these difficult times. Nevertheless, the company will continue to test new ways and look for new opportunities for its development.

Earlier, in February 2020, Macy's announced its intention to close 125 stores at once within a few years. It was reported that the company will not change these plans, but will be making adjustments to them. At present, Macy's owns 771 stores, including Bloomingdale's and Bluemercury's.

Earlier, the retailer pleased its shareholders with the announcement that the value of its shares rose by 3% on the back of a report of lower-than-expected losses and sales growth due to a decline in its online business.

More about shopping malls in the USA



TODAY, USA:
It plans to open about 40 such mini-stores in an area of about 50 square feet, which will sell the brand's goods.
TODAY, USA:
The last of the closed Apple Stores in the U.S. was reopened the other day - it is located in Texas.
YESTERDAY, USA:
Filling your cart with items and leaving the site without making a purchase has become the post-pandemic equivalent of window gazing for young shoppers.
Feb 26, 2021, USA:
It will be the most significant expansion in Sephora's history, demonstrating its confidence in the retailer's future.
Feb 26, 2021, USA:
Shortly, 17 Apple mini-stores will open in hypermarkets across the country. The company intends to start opening such outlets in the fall.
Feb 25, 2021, India:
The vast mall's construction will cost $760 million, and the project is expected to be completed in seven years.
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