**Department store chain Macy’s Inc. announced on Tuesday the opening of its first small-format stores in the northeastern and western regions of the United States.**
The openings mark the latest step in Macy’s strategy to adapt to the changing retail landscape, which has seen a shift towards online shopping and a decline in foot traffic at traditional department stores. Macy’s has been closing underperforming stores and opening smaller, more experiential locations in recent years.
The new small-format stores are located in Long Island, New York, and Scottsdale, Arizona. Both stores are approximately 20,000 square feet, which is significantly smaller than Macy’s traditional department stores, which typically range from 100,000 to 200,000 square feet.
The smaller stores offer a curated assortment of Macy’s merchandise, including apparel, accessories, and home goods. They also feature a variety of interactive experiences, such as a virtual reality fitting room and a personalized styling service.
“Our customers are increasingly looking for convenient and inspiring shopping experiences,” said Macy’s CEO Jeff Gennette. “These small-format stores are designed to meet their needs by offering a unique and immersive shopping environment that showcases the best of Macy’s.”
Macy’s plans to open additional small-format stores in the future. The company has not disclosed how many stores it plans to open or where they will be located.
The openings of the new small-format stores come as Macy’s continues to face challenges in the retail sector. The company has reported declining sales in recent quarters, and its stock price has fallen by more than 50% in the past year.
However, Macy’s is not alone in its struggles. Department stores across the country are facing similar challenges. JCPenney, Sears, and Bon-Ton Stores have all filed for bankruptcy in recent years.
Macy’s is hoping that its small-format stores will help it to compete with online retailers and other department stores. The company believes that the smaller stores will be more convenient and appealing to customers who are looking for a more personalized shopping experience.
It remains to be seen whether Macy’s small-format stores will be successful. However, the openings of the new stores are a sign that Macy’s is willing to experiment with new formats in order to adapt to the changing retail landscape..
