MACY’S UNVEILS UNPRECEDENTED REMODEL
OF HERALD SQUARE FLAGSHIP STORE IN NEW YORK CITY
Four-year reinvention will make Macy’s Herald Square the world’s most exciting, interesting
and technologically advanced department store; work to begin in early spring 2012
NEW YORK, New York, November 1, 2011 – Macy’s, Inc. today 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
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.
Key elements of the remodel project include:
- A 100,000-square-foot expansion of the store’s selling space to a total of 1.2 million square
feet by opening up space currently used for stock and offices and extending the mezzanine
level in the Broadway Building.
- A new hall of luxury brands, a dazzling series of two- and three-level shops in the Broadway
Building. The current Louis Vuitton shop will be updated and enlarged to multiple floors.
Other new shops to be announced will be added to provide a robust shopping experience for
luxury goods, including handbags and shoes.
- Creating the world’s largest women’s shoe department – a total of 39,000 square feet of
continuous selling space (63,000 square feet including stockrooms) on the second floor. The
department will offer an unequalled assortment of fashion and luxury footwear (as many as
300,000 pairs of shoes available on any given day), including access to the second level of
luxury brand shops. Part of the footwear space will be an all-new concept for a
- Dazzling, updated presentations of new and expanded apparel assortments from top fashion
brands for which Macy’s is well-known.
- Restoring the first floor “great hall” with an all-new presentation of cosmetics, fragrances and
fine jewelry that will incorporate the most advanced thinking on merchandising of the top
brands and products for which Macy’s is well-known. The original great hall’s ceiling height
will be restored.
- Creating an entirely new Impulse presentation of contemporary apparel and accessories for
the millennial customer.
- Creating an entirely new “mstylelab” presentation of juniors and young men’s in the Lower
Level. This will be a technology-infused environment of products and services appealing to
the social instincts of younger customers. The hottest apparel brands will be complemented
by juniors’ accessories, shoes, cosmetics and services such as a nail bar and salon. Also
incorporated into the Lower Level will be a complex of casual dining experiences, including
concepts created by Macy’s Culinary Council of celebrity chefs and a brew pub that will
remain open beyond normal store hours.
- A significant expansion and enhancement of men’s merchandise, which will grow to cover
about 200,000 square feet of selling space over seven floors of the Seventh Avenue Building.
This will become one of the premier men’s shopping destinations in the world.
- Infusing technology and new media into the shopping experience throughout the store. This
includes interactive store directories, a system to stream live video feeds of Macy’s events
nationwide, digital product information, an enhanced shoe locator system, new wayfinding
signage and a new mobile app to guide customers as they shop. Detailed design of the latter
phases of the renovation project are yet to begin so new technologies and ideas may be
incorporated as they emerge.
- A new table-service restaurant on the sixth floor with window access along Broadway that
will provide stunning views of the Empire State Building and Midtown Manhattan. This allnew
restaurant will be among 22 restaurants and foodservice stations throughout the store that
will accommodate seating for about 1,100 customers, an increase of nearly 40 percent.
- An entirely new world of home merchandise on the eighth and ninth floors, including an
enhanced demonstration kitchen and relocated De Gustibus Cooking School.
- A restoration of the store’s exterior to re-capture its original grandeur and take full advantage
of foot traffic along America’s top retailing block. The ornate “Memorial Entrance” on 34th
Street will be restored and reopened. Windows along Broadway, 34th Street and Seventh
Avenue, which have been covered up over the years, will be reopened. Windows on the upper
floors also will be uncovered to allow more natural light into the building. Sidewalks will be
replaced, with Macy’s-branded paved “welcome mats” added at every entrance. Awnings and
canopies reminiscent of the original building will be added. New exterior lighting will
highlight the building’s elegant architectural details.
- Preservation of 42 of 43 historic wooden escalators in the current store – a unique and
distinguishing feature of Macy’s Herald Square. (One current wooden escalator will be
removed to supply replacement parts for the others.)
- An enhanced Visitors Center on the newly expanded Mezzanine level with technology in nine
languages to serve a growing volume of international visitors.
- Expanding and upgrading amenities. Nearly 300 additional fitting rooms will be added over
the next four years. Restroom facilities will be added and improved.
- Operating systems to improve environmental sustainability, including a new state-of-the-art
energy management system and expanded use of LED lighting, that is expected to reduce
annual energy use by 15 to 20 percent.
“Our design of the new Macy’s Herald Square reflects how a new generation of customers prefers
to shop. In many cases, product will be organized by lifestyle to help customers create looks and build
wardrobes across categories. On every floor and across departments, our shopping environment will be
new, fresh, interesting and entertaining,” Lundgren said.
Macy’s Herald Square anchors two of the top retail corners in America – Broadway/34th
and Seventh Avenue/34th
Street. The first portion of the current Macy’s Herald Square store (the majority
of the current Broadway Building) was opened in 1902. The store was expanded in three additional
phases to its current form by 1931. The current building includes nearly 2.2 million gross square feet.
Over the course of the remodel project, an estimated 1,600 construction-related positions will be
created. The total ongoing workforce in the Macy’s Herald Square store is expected to grow steadily as
each phase is completed and the level of business accelerates. By fall 2015, Macy’s plans to add about
800 new positions to the store’s existing year-round workforce of about 4,600 persons.
Macy’s, Inc.’s internal planning, design and construction team is leading the Macy’s Herald
Square renovation program, with master planning support from STUDIO V Architecture of New York.
Component elements were designed by Highland Associates of New York, Kevin Kennon Architects of
New York and Charles Sparks + Company of Westchester, IL.
Macy’s, Inc., with corporate offices in Cincinnati and New York, is one of the nation’s premier
retailers, with fiscal 2010 sales of $25 billion. The company operates about 850 department stores in 45
states, the District of Columbia, Guam and Puerto Rico under the names of Macy’s and Bloomingdale’s,
as well as the macys.com and bloomingdales.com websites. The company also operates six
Bloomingdale’s Outlet stores.
All statements in this press release that are not statements of historical fact are forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements
are based upon the current beliefs and expectations of Macy’s management and are subject to significant
risks and uncertainties. Actual results could differ materially from those expressed in or implied by the
forward-looking statements contained in this release because of a variety of factors, including conditions
to, or changes in the timing of, proposed transactions, prevailing interest rates, changes in expected
synergies, cost savings and non-recurring charges, competitive pressures from specialty stores, general
merchandise stores, manufacturers’ outlets, off-price and discount stores, new and established forms of
home shopping (including the Internet, mail-order catalogs and television) and general consumer
spending levels, including the impact of the availability and level of consumer debt, the effect of weather
and other factors identified in documents filed by the company with the Securities and Exchange
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