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Last $69.06 USD
Change Today -0.27 / -0.39%
Volume 3.3M
M On Other Exchanges
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As of 8:04 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

macy's inc (M) Key Developments

Macy's Inc. to Close Downtown Pittsburgh Location

Macy's Inc. will close its downtown Pittsburgh store, a location that has been in operation as a retail store for more than 125 years. The company said 170 employees will be impacted as a result of the closure. Associates displaced by the closing may be offered positions in nearby stores where possible. Eligible full-time and part-time associates who are laid off due to the store closing will be offered severance benefits. About 30 additional employees that work in various district offices on the 11th floor of the building will be located to another Macy's store in the Pittsburgh region.

The Men's Wearhouse Enters into 10-Year Agreement with Macy's, Inc

The Men's Wearhouse reported that it has signed a 10-year agreement with Macy's, Inc. to operate men's tuxedo rental shops inside 300 Macy's stores. Men's Wearhouse noted that the new Macy's Tuxedo Shop is expected to be located in or near the Men's Department and will have dedicated space staffed by the formalwear professionals. Macy's and Men's Wearhouse will also collaborate to develop a digital tuxedo rental shop on macys.com.

Macy's Adds Tuxedo Rental with New Partnership

Macy's Inc. will open tuxedo rental shops inside 300 of its stores nationwide. The new Macy's-branded shops stem from an agreement with Men's Wearhouse. The men's clothing retailer will staff the outposts in dedicated spaces in or near the men's department in Macy's stores. The first 17 Macy's Tuxedo Shops will open in fall 2015 in New Jersey, San Francisco and Houston, and 300 shops are expected to be open by fall 2016.

Macy’s Signs License Agreement with Men’s Wearhouse for In-Store Tuxedo Rental Shops

Macy’s, Inc. announced that it has signed an agreement with Men’s Wearhouse to open licensed tuxedo rental shops within 300 Macy’s stores nationwide. These Macy’s-branded shops will be operated by Men’s Wearhouse and staffed by its trained formalwear professionals in dedicated space located in or near the men’s department in Macy’s stores. They will be fully integrated in Macy’s storewide wedding experience, and support Millennial merchandising strategies related to proms and other special occasions.

Macy’s Backstage Adds Two Additional Pilot Store Locations in Metro New York City

Macy’s, Inc. announced two additional pilot store locations in metro New York City for Macy’s Backstage. Together with four initial pilot locations announced last month, these two additional stores will bring to six the total number of Macy’s Backstage for launch. All are expected to open in fall 2015 and average about 30,000 square feet. Pilot locations being announced on June 8, 2015 are: Fordham Place, 400 East Fordham Road, The Bronx, NY and Essex Green Shopping Center, West Orange, NJ. At Essex Green, an existing Macy’s store will be converted to Macy’s Backstage. The Macy’s Essex Green store will begin a final clearance sale on June 14, which is expected to conclude in late July or early August. It will close for extensive remodeling before opening as Macy’s Backstage in about one-half of the existing space. Macy’s Backstage will offer a compelling assortment of women’s, men’s and children’s apparel, shoes, fashion accessories, housewares, home textiles, intimate apparel and jewelry. Each store also will include amenities, such as free WiFi and a suite of spacious fitting rooms. One location will test a café concept so customers can relax and refresh. Each Macy’s Backstage store is expected to hire a staff of 30 to 45 associates.

 

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