Headlines

Macy’s to Try New Store Formats

Hopes to boost sales

Published

9 years ago

February 25, 2015

Sarah Whitman

On Tuesday, Macy's (Cincinnati) ceo Terry Lundgren pledged to try new initiatives to grow sales, including new store formats.

Lundgren said the company plans to expand the chain as a standalone business, while also adding selected Bluemercury products and boutiques to Macy's stores nationwide. Macy’s, which also owns Bloomingdale’s, recently acquired the Bluemercury beauty and spa chain for $210 million, a move that could help broaden the department store’s customer base. Based in Washington, D.C., Bluemercury operates 60 stores in 18 states and has a growing e-commerce business, according to The New York Times.

Macy’s reported stronger profits on flat sales for 2014, with Lundgren touting the company’s healthy profitability and cash flow, according to The Cincinnati Enquirer. He said some of the new initiatives would enter start-up phases later this year.

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