On Wednesday of this week Macy’s announced it will close 125 stores over the next three years. On Thursday it is set to open what the retailer hopes will be the antidote to future closings. It is a new store concept called Market by Macy’s in Southlake, Texas.
Market by Macy’s will be about 15,000 square feet, or one-tenth the size of a typical Macy’s. It will feature clothing, home decor, an apothecary and an in-store cafe. These stores will be located off-mall in lifestyle centers. Macy’s Chief Executive Jeff Gennette told analysts that he plans to have four or five of the new stores open by the end of this year.. . . more