Macy’s to open more standalone stores and close in some malls

Macy’s, Inc., which has opened 10 Market by Macy’s and Bloomie’s stores, is adding five of the smaller, standalone stores this fiscal year. The smaller shop concepts have outperformed the retailer’s traditional department stores in malls. “The hope is that we’re going to have a model that we’re going to be able to scale more aggressively in 2024 and beyond,” CEO Jeff Gennette said in March. “We’re very bullish on the concept. We’re very bullish on the early learnings. The size, the locations are all working.”