Macy's is testing a new kind of store that's not attached to a mall as it executes a massive turnaround that includes thousands of job cuts
Titled Market by Macy's, the new store is based in Southlake, Texas, an affluent suburb of Dallas, and will be the first of its kind for the retailer.
Market by Macy's will feature a curated assortment of clothing and home decor, an apothecary for health and beauty needs, community events, and an in-store cafe. The store was developed in partnership with Rachel Shechtman, founder of the experiential retail boutique Story, which was acquired by Macy's in 2018. According to Macy's, the new shop is designed to be "smaller than an average Macy's store and will be located off-mall in lifestyle centers.
The store opening comes just two days after the retailer — which also owns Bloomingdale's and Bluemercury — announced a turnaround plan that involves"The changes we are making are deep and impact every area of the business, but they are necessary," Macy's CEO Jeff Gennette said in a statement on Tuesday. "I know we will come out of this transition stronger, more agile and better fit to compete in today's retail environment.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Macy's just revealed a massive plan to turn around its business - Business InsiderMacy's announced a three-year business strategy on Tuesday that will involve the closure of 125 stores and layoffs for 2,000 employees.
Read more »
Macy's is closing 125 stores, cutting thousands of corporate jobs, and shuttering offices - Business InsiderThe store closings represent about one fifth of the retailer's locations. The company will also cut 2,000 corporate jobs.
Read more »
Macy's tech chief sheds light on layoffs in letter to employees - Business InsiderMacy's announced a three-year revitalization strategy on Tuesday, which included store and office closings and laying off 2,000 workers.
Read more »
Macy's to close 125 stores, cut more than 2,000 jobsMacy&39;s said it would close stores in "lower tier" malls, and explore new off-mall formats, as it looks to tackle plummeting mall traffic in the United States. "We will focus our resources on the healthy parts of our business, directly address the unhealthy parts of the business and
Read more »
WSJ News Exclusive | Macy’s to Close 125 Department Stores, Exit Weakest MallsThe department-store operator is cutting back sharply in an admission that a fifth of its locations cannot thrive as shoppers buy more online and make fewer trips to malls.
Read more »
Macy’s to Close 125 Department Stores, Exit Weakest MallsMacy’s plans to close 125 department stores over the next three years, an admission that a fifth of its locations cannot thrive as shoppers buy more online and make fewer trips to malls
Read more »