What Time Does Macys Open On Sunday – In the days leading up to the new year, the grocery chain confirmed a new round of store closings across the US. Macy’sInc., which owns Bloomingdale’s and Bloomercury. Six Macy’s stores and one Bloomingdale’s will be closed during this time. (See list below.)
“Stores remain an integral part of our omnichannel retail ecosystem,” Macy’s said in a statement to the US on Wednesday. “As our business grows, we continue to optimize and position our store fleet to more effectively support our sales growth and expand our market share.”
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The closings are part of Macy’s plan to close a fifth of its stores, or about 125 locations, which was first announced in February 2020 before the coronavirus pandemic. The pandemic has prompted Macy’s and other retailers to temporarily close individual stores. shop for months.
In early 2020, Macy’s announced the first closings as part of its store optimization plan. Another round of closings was announced last January.
Macy’s stores are expected to close in the company’s first fiscal quarter of 2022, which has ended in late July or early August in recent years. Bloomingdale’s is expected to close at the end of the fourth quarter of 2021 on January 29.
KMBC 9 News in Missouri reported that sales at the Summit Fairgrounds at Macy’s Lee’s Summit will begin this month and last about eight to 12 weeks.
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In November, Macy’s chief financial officer Adrian Mitchell said the retailer was “taking a second look at the timing of closing approximately 60 stores it plans to close as part of its store optimization plan.”
“We will announce about 10 closings in January, with more details on the remaining stores to come in 2022,” Mitchell said during the retailer’s quarterly earnings call, noting that some closings have been delayed and the company continues to reopen. from its smaller stores.
“It remains to be seen how many store closings we will ultimately have on schedule,” Mitchell said at Morgan Stanley’s Global Consumer and Retail Conference in December.
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In addition to opening smaller format stores, including NewMarket under the Macy’s concept, the retailer plans to open 400 small Toys R Us stores in its stores this year.
As cases of COVID-19 continue to rise across the country, Macy’s said it will temporarily update store hours for the remainder of January at Macy’s stores.
In January, stores will be open Monday through Thursday from 11:00 a.m. to 8:00 p.m. Hours are the same Friday through Sunday and may vary by location.
“The health and safety of our colleagues and customers remains our top priority,” Macy’s said in a statement. “We will continue to monitor the situation, follow CDC and jurisdictional guidance, and improve safety and health procedures.”
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One of eight Macy’s stores is currently located in Evergreen Plaza, Illinois. (Jean-Marc Giboux, AP Images for Macy’s)
Macy’s is opening several more smaller-format mall-sized stores this year, which will accelerate its expansion through 2024, depending on the site’s performance, as it joins the ranks of retailers abandoning large local shopping meccas.
New York-based department store chain Macy’s, which also includes Bloomingdale’s and Bloomercury, said Thursday that four Macy’s stores, as well as Bloomie’s, are planned for Seattle by 2023. Macy’s currently has eight Macy’s stores, the a fifth of the chain’s flagships and two Bloomie’s, smaller versions of its upscale locations. Macy’s CEO Jeff Gennett said those locations — which offer a smaller but more curated selection of merchandise — are doing well.
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“If the new locations continue to be a priority, we will accelerate the opening of the mall from 2024 … We hope to have a scale model by the end of the year,” Gennett said during a call for comment. fourth quarter earnings.
Macy’s brick-and-mortar presence in and outside of those markets, small-format stores “play an integral role in supporting our omnichannel ecosystem,” the CEO said.
Other retailers, such as Macy’s, are trying to reduce their presence in large malls and retail parks. Columbus, Ohio-based Bath & Body Works is “moving aggressively” in the same direction, opening 90 new stores late last month and closing 50 malls this year, said Brandon Sweck, national director of U.S. retail. . team details, he said in an email.
“It’s a slightly different footprint than Messi, so the size of the space is smaller, but it’s very noticeable,” Svec said.
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New York-based Foot Locker has said it wants to expand outside malls, and the Columbus, Ohio-based retailer tried a non-mall format several years ago, GlobalData CEO Neil Sanders said in an email. News San Francisco-based Sephora is a mall chain that currently has beauty stores in non-mall Kohl’s stores.
Many of the small Macy’s stores may not be located in malls, but they are not unique. They’re in malls where they have an advantage, says Angie Solanki, director of U.S. retail for real estate firm Colliers.
“In recent years, retailers have been looking for alternatives to their retail strategy, opening more stores in anchor, lifestyle and nationally focused malls to attract repeat customers and repeat business—those who are not interested in browsing the save and instead want to get in and out faster,” Solanki said in an email. He also noted that “parking in non-commercial projects often provides access to shops”.
Gennett told Wall Street analysts that Macy’s Market is getting a lift from some of its neighbors.
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“So far, we’ve had the most success in centers where products and brands that include high-traffic concepts like price or food provide a differentiated opportunity,” he said. “Opening cannibalism in malls is lower than expected and new customer acquisition rates are higher than in malls.”
Malls have 2 ½ times the traffic of malls, Gennett said, citing data from Placer.ai.
“It averages 30,000 to 40,000 square feet, or about one-fifth of our retail space,” Gennett said. “Comparable fourth-quarter licensed sales increased 8% and 12%, respectively, for Macy’s and Blume’s five markets.”
Contrasted with the performance of the rest of Macy’s chains in the quarter through Jan. 28, total net sales were $8.3 billion, down 4.6% from the fourth quarter of 2021. , Bloomingdale’s was less than 1%. Several retailers, including Kohl’s, reported fourth-quarter results and warned that consumers will face financial hardship this year, with Gennett also sounding the alarm.
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In an investor presentation from Macy’s mall, the small-format stores are designed for so-called infill locations, where the company already has stores but sees higher traffic and an opportunity to gain a new customer base in the market. They also replace locations for markets where closing a large location would lead to market exits and in markets where the company did not previously have a store.
“In the right direction, opening smaller stores makes sense because it puts Macy’s in a place where demand is higher and allows them to expand without the cost of opening larger stores,” Saunders said. “So the rate of expansion is very low, so smaller formats aren’t affected as much. The other problem is that Macy’s still doesn’t seem to have figured out what works for them in small formats. Small stores are often better than larger ones. If they want, they have to to raise standards.”
Bill Read, executive vice president of Retail Specialists, said in an email to the News that Macy’s will have to raise it financially for its non-storefront stores.
“The pace of rollout appears very slow and unlikely to contribute significantly to the bottom line until Macy’s achieves scale with its store footprint for the market,” Read said. “Four stores in 2023 tell me to improve the store concept even more
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