Macy's Inc. (Cincinnati) announced a series of store openings and closings as part of the company's process to review its store portfolio, close underperforming locations and identify new ones to fill gaps in local markets.
"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," says Terry Lundgren, 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."
Five new Macy's stores will open in the next few years, along with one replacement store:
•Victorville, Calif. (103,000 square feet; to open mid-2013)
•Gurnee, Ill. (140,000 square feet; to open in spring 2013)
•The Bronx, N.Y. (160,000 square feet; to open in fall 2013 or spring 2014)
•Salt Lake City, Utah (150,000 square feet; opening in March 2012)
•Greendale, Wis. (150,000 square feet; to open in March 2012)
A 200,000 square-foot replacement store will open in Bay Shore, N.Y., in fall 2013.
Bloomingdale's is planning to open a replacement store at Glendale Galleria in Glendale, Calif., in fall 2013, and a smaller, new store at Stanford Shopping Center in Palo Alto, Calif., in spring 2014. In addition, five new Bloomingdale's Outlet stores will open in 2012, bringing its total outlet locations to 12.
Among the announced closings, Macy’s will shutter its doors this spring in:
•West Ridge Mall, Topeka, Kan. (193,000 square feet; opened in 1988)
•Laurel Mall, Laurel, Md. (123,000 square feet; opened in 1981)
•Parmatown, Parma, Ohio (288,000 square feet; opened in 1960)
•Hickory Hollow, Antioch, Tenn. (181,000 square feet; opened in 1979)
•Mall of the Mainland, Texas City, Texas (151,000 square feet; opened in 1994)
Bloomingdale's closings include:
•Perimeter Mall, Atlanta (234,000 square feet; opened in 2003)
•Oakbrook Home and Furniture, Oak Brook, Ill. (93,000 square feet; opened in 2003)
•White Flint, North Bethesda, Md. (259,000 square feet; opened in 1977)
•Mall of America, Bloomington, Minn. (233,000 square feet; opened in 1992)
When all of these planned openings and closings are complete, Macy's will operate 804 stores in 45 states, the District of Columbia, Puerto Rico and Guam.