Macy's to Open Three New Stores in New York and California
CINCINNATI, Nov 09, 2011 (BUSINESS WIRE) --
Macy's, Inc. (NYSE:M) today announced plans for three new Macy's stores, each offering a wide range of merchandise categories.
- A three-level, 160,000-square-foot Macy's in the Mall at Bay Plaza in The Bronx borough of New York City to open in fall 2013 or spring 2014. This new store will be built as part of Prestige Properties' expansion of Bay Plaza Shopping Center, which serves shoppers along the densely populated I-95 corridor. This will be Macy's second store in The Bronx (joining Parkchester), and its first new location within New York City since Queens Center was opened in 1995. Bay Plaza will be Macy's 30th store in the metro New York market. An estimated 225 Macy's associates will serve customers at Bay Plaza.
- A new two-level, 200,000-square-foot Macy's that will replace the existing Macy's store in Westfield South Shore in Bay Shore, NY. The current South Shore mall store is scheduled to close in March 2012 for razing, with construction beginning shortly thereafter on a new replacement store to open in fall 2013 to continue to serve the Long Island community. The current South Shore store of 318,000 square feet was opened in 1963 and has a workforce of 180 associates. The company's current plan is to offer Macy's South Shore associates the opportunity to transfer to open positions in nearby Macy's stores during the construction process.
- A one-level, 103,000-square-foot Macy's in the Mall of Victor Valley in Victorville, CA, to open in mid-2013. A former Gottschalk's store of 72,000-square-feet in that mall will be expanded and renovated into a 103,000-square-foot Macy's. The Mall of Victor Valley, a Macerich development, serves southern San Bernardino County and surrounding communities in the high desert about 80 miles northeast of Los Angeles. It will be the 11th Macy's store in the Riverside-San Bernardino market. An estimated 140 Macy's associates will serve customers in Victorville when the store opens.
(Editor's Note: Macy's, Inc. this morning also issued a separate news release announcing third quarter earnings.)
"Our new Macy's stores in Bay Plaza and South Shore will help us to better serve customers and deepen our presence in the diverse and densely populated New York marketplace, where we already enjoy a significant presence. Our Victorville store, on the other hand, will be the first Macy's in that rapidly growing city, and we look forward to meeting and engaging new customers," said Ron Klein, Macy's chief stores officer. "In each case, we will be tailoring our merchandise assortments of well-known brands to local customer needs, with an emphasis on the distinctive fashion, obvious value and exciting shopping experience for which Macy's is known."
The three new locations announced today join three other previously announced Macy's stores that are in various stages of construction - Macy's in City Creek Center in downtown Salt Lake City (150,000 square feet, with 116 associates, opening in March 2012), Southridge Mall in Greendale, WI (150,000 square feet, with 160 associates, opening in spring 2012) and Gurnee Mills in Gurnee, IL (140,000 square feet, with 200 associates, opening in spring 2013).
Also, Macy's is consolidating its two separate stores in Westfield MainPlace in Santa Ana, CA, into the one location in 2012. The current 334,000-square-foot Macy's main store will be retained and remodeled to incorporate menswear and mattresses currently sold in a separate 155,000-square-foot store in MainPlace. When the transition is completed, the smaller building at MainPlace will be closed and acquired by Westfield for redevelopment.
Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2010 sales of $25 billion. The company operates about 850 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's and Bloomingdale's, as well as the macys.com and bloomingdales.com websites. The company also operates seven Bloomingdale's Outlet stores.
All statements in this press release that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of Macy's management and are subject to significant risks and uncertainties. Actual results could differ materially from those expressed in or implied by the forward-looking statements contained in this release because of a variety of factors, including conditions to, or changes in the timing of, proposed transactions, prevailing interest rates, changes in expected synergies, cost savings and non-recurring charges, competitive pressures from specialty stores, general merchandise stores, manufacturers' outlets, off-price and discount stores, new and established forms of home shopping (including the Internet, mail-order catalogs and television) and general consumer spending levels, including the impact of the availability and level of consumer debt, the effect of weather and other factors identified in documents filed by the company with the Securities and Exchange Commission.
(NOTE: Additional information on Macy's, Inc., including past news releases, is available at www.macysinc.com/pressroom).
SOURCE: Macy's, Inc.
Jim Sluzewski, 513-579-7764
Matt Stautberg, 513-579-7780
Released November 9, 2011