Big Move For Small Stores: Macy's Lays Out Plan To Launch Up To 30 Small-Format Stores
Portfolio Pulse from Shivani Kumaresan
Macy's Inc has announced an accelerated expansion of its small-format store strategy, with plans to open up to 30 new locations nationwide starting from 2024. This is in addition to the nearly 15 small-format Macy's and Bloomie's locations currently in operation. The company's small-format stores have achieved positive comparable owned plus licensed sales growth year-to-date through spring 2023.
October 03, 2023 | 4:29 pm
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Macy's plans to expand its small-format store strategy could potentially boost its sales and profitability starting from 2024. However, the company's shares are currently trading lower.
The expansion of Macy's small-format stores is a strategic move to increase sales and profitability. The small-format stores have already shown positive sales growth. However, the impact on the company's stock price may not be immediate as the new stores will start opening from 2024. The current decrease in the company's share price could be due to other market factors.
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