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Balenciaga, Loewe and Akris are opening boutiques on Oak St. in Chicago.
Cartier opened a new two-story location in the former Barney's at Oak/Rush. There's been a lot of activity over the past year with Amiri, Celine, Bruno Cuccinelli, Bottega Veneta and Burdeen's all opening new stores in the district.
Most of the action has shifted to Oak Street. Great to see some more big names join the mix.
I know the title is Macy's, but the company is expanding its high-end Bloomingdale's brand, mostly small format stores. I'm interested to see if these stores will be in new or existing markets.
Second, the company will focus on its successful Bloomingdale’s and Bluemercury brands — luxury stores that have outperformed the Macy’s brand. It will open more, smaller versions of those stores over the next several years.
NYT adds: "the company plans to add 15 Bloomingdale’s locations... The company will open its smaller-format Bloomingdale’s stores — known as Bloomie’s — and outlet stores in 15 markets over the next three years, Mr. Spring said on a call with analysts."
15 new Bloomie's / Outlet locations by FY26, "expand footprint in new markets beyond current 14/50 top DMAs". So they're in 14 of the top 50 DMAs, and want to be in more. Top-12 DMAs that they're not already in include Houston and Phoenix; then they're not in many in the Tampa, Detroit, Minneapolis, Denver size range.
Overall outlook still isn't great: Macy's has -4.7% comps, Bloomingdale's -1.6%. Even for the "go-forward" fleet of stores, they're projecting -1 to +2.5% comps, which (given that inflation is still high) is flat at best. Debt maturity wall in 2029, too.
NYT adds: "the company plans to add 15 Bloomingdale’s locations... The company will open its smaller-format Bloomingdale’s stores — known as Bloomie’s — and outlet stores in 15 markets over the next three years, Mr. Spring said on a call with analysts."
15 new Bloomie's / Outlet locations by FY26, "expand footprint in new markets beyond current 14/50 top DMAs". So they're in 14 of the top 50 DMAs, and want to be in more. Top-12 DMAs that they're not already in include Houston and Phoenix; then they're not in many in the Tampa, Detroit, Minneapolis, Denver size range.
Overall outlook still isn't great: Macy's has -4.7% comps, Bloomingdale's -1.6%. Even for the "go-forward" fleet of stores, they're projecting -1 to +2.5% comps, which (given that inflation is still high) is flat at best. Debt maturity wall in 2029, too.
Nashville comes to mind. The region only has 1 high-end department store (Nordstrom). A full-line Bloomingdale's or Saks would do very well.
Bloomingdale's is building a massive fulfillment center outside of Charlotte, I expect one of these concepts will open in that market.
The small / local concept stores are fine (the way of the future). The days of opening new full-line luxury department stores are unfortunately mostly a thing of the past.
Nashville comes to mind. The region only has 1 high-end department store (Nordstrom). A full-line Bloomingdale's or Saks would do very well.
Bloomingdale's is building a massive fulfillment center outside of Charlotte, I expect one of these concepts will open in that market.
The small / local concept stores are fine (the way of the future). The days of opening new full-line luxury department stores are unfortunately mostly a thing of the past.
There’s nothing high end about the Nordstrom’s in Nashville Have you been in there?
NYT adds: "the company plans to add 15 Bloomingdale’s locations... The company will open its smaller-format Bloomingdale’s stores — known as Bloomie’s — and outlet stores in 15 markets over the next three years, Mr. Spring said on a call with analysts."
15 new Bloomie's / Outlet locations by FY26, "expand footprint in new markets beyond current 14/50 top DMAs". So they're in 14 of the top 50 DMAs, and want to be in more. Top-12 DMAs that they're not already in include Houston and Phoenix; then they're not in many in the Tampa, Detroit, Minneapolis, Denver size range.
Overall outlook still isn't great: Macy's has -4.7% comps, Bloomingdale's -1.6%. Even for the "go-forward" fleet of stores, they're projecting -1 to +2.5% comps, which (given that inflation is still high) is flat at best. Debt maturity wall in 2029, too.
Bloomingdale's operated a store in the Minneapolis-St. Paul (Twin Cities) area for about 20 years.
It was one of the anchor stores in The Mall of America, which is located in suburban Bloomington MN.
This store was open for about 20 years. It was closed for 'underperformance' in 2012.
The Twin Cities have seen the closing of Saks Fifth Avenue and Neiman-Marcus stores, as well. Both of these retailers were in downtown Minneapolis, and not in The Mall of America.
Last edited by Nearwest; 03-15-2024 at 02:08 PM..
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