The smaller stores will be roughly one-fifth the size of the retail chain’s regular department stores.
Macy's said the four new stores will bear the iconic brand's nameplate, but the other eight stores will still be called Market by Macy's. The department store opened its first small-format store in 2020 in the Dallas-Fort Worth area. Macy's operates about 500 stores under the namesake brand.Sign up for NBC San Diego newsletters.
Macy's smaller department stores are not in traditional malls but rather in strip malls anchored by discount stores. They offer a slimmed-down assortment of trendy and basic fashions, as well as beauty and fragrances, along with services that allow shoppers to pick up online orders at the store. Macy’s noted that the smaller stores that have been open more than one full fiscal year achieved positive comparable sales including licensed businesses.and lay off about 2,000 corporate employees. The retailer has closed about 80 Macy's locations and plans to shutter another five this year, a company representative reported in an earnings call in March.
Macy's currently operates eight locations around the county, at the Fashion Valley and Mission Valley malls in Mission Valley; at well as in University Town Center, National City, La Mesa, Chula Vista, Escondido and Carlsbad. that it had to heavily discount spring goods to make room for fresh fall and holiday merchandise amid customers’ cautious spending, but adjusted profits and sales for the fiscal second quarter still beat Wall Street expectations.
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