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Makeover plan for Macy's Herald Square flagship
02
Nov '11
Macy's Inc unveiled an unprecedented, multi-year renovation that will reinvent and elevate the shopping experience at Macy's flagship store at Herald Square in New York City. The project will fortify Macy's Herald Square as one of the world's favorite department stores (it's already the largest) and a New York City icon.

The company is investing approximately $400 million in capital in the project over the next four years. Additional selling space will be added to allow for expanded assortments and upgraded presentations in key merchandise categories including shoes, handbags, cosmetics and fashion brands for millennial-generation customers.

Work will begin in early spring 2012 and continue in phases through the fall of 2015. The majority of every floor, virtually every department and the exterior of the building will be improved over the life of the project. The store will remain open and operating during construction, with the location of some departments shifting temporarily as work progresses.

"The excitement, size and scale of this remodel reinforces our conviction that Macy's Herald Square is and will remain a retail store in a class by itself. It is our company's most productive store, and experience shows that improvements in this location consistently result in higher customer traffic and sales volume. Our upcoming top-to-bottom remodel represents an investment in the future growth of our business as New York City continues to evolve as a world capital and shopping destination," said Terry J. Lundgren, Macy's, Inc. chairman, president and chief executive officer.

"Herald Square is a national and international symbol of the Macy's brand. It already is one of the top tourist attractions in New York City and North America. It is the hub of the annual Macy's Thanksgiving Day Parade. And generations of fashion designers and celebrities have gravitated to Macy's Herald Square as a place to launch products and showcase their newest ideas," Lundgren said.

"While we will be creating a modern, customer-centric shopping experience for customers at Herald Square, we also will be careful to preserve and restore the historical integrity of this landmark building. Macy's Herald Square is a treasure that we intend to protect and nurture. Blending Macy's architectural legacy with advanced technology and contemporary design is what makes this project so special," he added.

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Macy's Inc


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