Macy's to Open Two New California Stores
CINCINNATI--(BUSINESS WIRE)-- Macy's, Inc. (NYSE:M) today announced it will open two new Macy's stores in the Central Valley of California in fall 2009. Both are former Gottschalks locations for which Macy's submitted successful bids in the Gottschalks bankruptcy process.
The stores are located in River Park in Fresno (107,000 square feet; built in 2004) and Visalia Mall in Visalia (150,000 square feet; built in 1995). Both are expected to be open prior to the 2009 holiday selling season after minor remodeling and re-fixturing. Each store is expected to offer a wide selection of apparel and accessories for the whole family, as well as a limited assortment of home merchandise. Together, the two stores are expected to employ about 250 Macy's associates.
"With these new locations, Macy's is expanding its presence and serving new customers in the important Central Valley market," said Terry J. Lundgren, chairman, president and chief executive officer of Macy's, Inc. "We look forward to offering a locally-focused combination of fashion and value for which Macy's is well known, and to being active members of the community."
Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2008 sales of $24.9 billion. The company operates more than 840 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's and Bloomingdale's. The company also operates macys.com and bloomingdales.com. Prior to June 1, 2007, Macy's, Inc. was known as Federated Department Stores, Inc.
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.
Released June 11, 2009