The chain will develop more smaller store concepts that aren’t located in or built for malls. The next one will open at WestBend.
Written by: Maria Halkias
Macy’s is moving forward with plans for smaller brick-and-mortar stores, including a second Market by Macy’s in Fort Worth.
The retailer’s first boutique version of the department store, located in Southlake Town Square, was only open a few weeks before the coronavirus pandemic shut down much of retailing. It reopened in May.
Macy’s CEO Jeff Gennette said Wednesday that the company plans to open its second Market by Macy’s in Fort Worth next year and still plans to take the concept to Atlanta and Washington, D.C.
A small store concept for the retailer’s Bloomingdale’s luxury chain is also under development and planned for late 2021, he said.
While Gennette said he continues to believe “the best malls in the country will thrive,” the company’s plans are for what he called “high-potential off-mall” and “smaller formats.”
Macy’s said in February that it will close 125 of its mall stores over the next three years, and those plans haven’t changed, Gennette said. Macy’s Backstage, the retailer’s version of a discount store, and Bloomingdale’s Outlet are its other smaller concepts…