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Macy's tests new store not in mall as part of turnaround strategy - Business Insider

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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.

 

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