Macy's retreats from the mall to focus on off-price, off-mall concepts - Business Insider

The department store chain on Tuesday revealed its three-year turnaround plan to cut costs and boost growth, called "Polaris." To do so,125 underperforming stores, streamline its offices, and slash hundreds of corporate jobs.

Instead, the company will be taking its brand to the areas of retail that are growing, he said, piloting new store concepts that can be "scaled profitably under the Macy's brand." Gennette added that Macy's research reveals that these consumers would shop at Macy's if it had a store in the places where they are shopping regularly — out of the mall and closer to their own neighborhoods.

The concept launched in 2015 with six standalone stores and has since grown to have 211 store-within-store locations in Macy's full-line department stores. In 2020, Macy's plans to bring the number of store-within-stores up to 261 locations.

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Macy's tests new store not in mall as part of turnaround strategy - Business InsiderMacy's is opening a new concept store in Texas, and it's not located in a mall. The department store announced a massive turnaround plan on Tuesday.
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Macy's tests new store not in mall as part of turnaround strategy - Business InsiderMacy's is abandoning the mall for its newest kind of store, part of a turnaround plan that calls for closing 125 locations and cutting thousands of jobs Looks stupid
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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. BI_RetailNews I was at one of their newer stores over the holidays, it was dead. One of the employees said it will be gone in 5 years, everything is going online.
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