Macy's Inc. is planning a series of store openings and closings as part of its efforts prune underperforming locations and fill in gaps in local markets or take advantage of new opportunities at both Macy's and Bloomingdale's.
"We continue to be committed to maintaining a healthy portfolio of stores that allows us to focus on growth from our best and most productive locations," said Terry J. Lundgren, Macy's chairman, president and CEO. "This requires us to make some difficult decisions to close stores that no longer meet our performance requirements, as well as to open stores where we see opportunity."
Macy's will close the following five Macy's And four Bloomingdale's stores in early spring 2012.
Macy's, West Ridge Mall, Topeka, KS (193,000 square feet; opened in 1988; 60 associates);
Macy's, Laurel Mall, Laurel, MD (123,000 square feet; opened in 1981; 76 associates);
Macy's, Parmatown, Parma, OH (288,000 square feet; opened in 1960; 94 associates);
Macy's, Hickory Hollow, Antioch, TN (181,000 square feet; opened in 1979; 77 associates);
Macy's, Mall of the Mainland, Texas City, TX (151,000 square feet; opened in 1994; 68 associates).
Bloomingdale's, Perimeter Mall, Atlanta, GA (234,000 square feet; opened in 2003; 128 associates);
Bloomingdale's, Oakbrook Home and Furniture, Oak Brook, IL (93,000 square feet; opened in 2003; 50 associates);
Bloomingdale's, White Flint, North Bethesda, MD (259,000 square feet; opened in 1977; 158 associates); and
Bloomingdale's, Mall of America, Bloomington, MN (233,000 square feet; opened in 1992; 127 associates).
Five new Macy's stores, as well as one replacement store, are currently planned and/or under construction. New Macy's stores will be in:
Victorville, CA (103,000 square feet; to open mid-2013; approximately 140 associates);
Gurnee, IL (140,000 square feet; to open in spring 2013; approximately 200 associates);
The Bronx, NY (160,000 square feet; to open in fall 2013 or spring 2014; approximately 225 associates);
Salt Lake City, UT (150,000 square feet; opening in March 2012; approximately 116 associates); and
Greendale, WI (150,000 square feet; to open in March 2012; approximately 160 associates).
A replacement store will be built in Bay Shore, NY (200,000 square feet; to open in fall 2013; approximately 180 current associates).
Bloomingdale's is planning to open one new store (previously announced) and one replacement store.
As previously announced, a new Bloomingdale's is planned to open in Glendale Galleria in Glendale, CA (120,000 square feet; to open in fall 2013; approximately 175 associates).
In addition, the company is announcing that an all-new Bloomingdale's will be built in Stanford Shopping Center in Palo Alto, CA, to open in spring 2014, subject to completion of a public approval process. The new Stanford Shopping Center store will be built in a smaller format similar to highly successful Bloomingdale's stores opened in recent years in SoHo (New York), Chevy Chase, MD and Santa Monica, CA.
The new 120,000-square-foot store in Palo Alto will replace an existing Bloomingdale's of 229,000 square feet in the same shopping center. The current Bloomingdale's will remain in operation until the new store is constructed and opened. At that point, the current store will be razed and replaced by new specialty retail development by Simon Property Group, developer and manager of the shopping center which is owned by Stanford University. Bloomingdale's Stanford Shopping Center store currently employs about 180 associates and the company plans to maintain a similar workforce in the new store when it opens.
In addition, five new Bloomingdale's Outlet stores will open in 2012, each with about 25,000 square feet and 35 associates:
Paragon Outlets Livermore Valley in Livermore, CA (to open in fall 2012);
Merrimack Premium Outlets, Merrimack, NH (to open in spring 2012);
The Gallery at Westbury Plaza, Westbury, NY (to open in fall 2012);
The Shops at Park Lane, Dallas, TX (to open in spring 2012); and
Paragon Outlets Grand Prairie in Grand Prairie, TX (to open in summer 2012).
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