Macy’s, Inc. (NYSE: M) today announced plans for a new full-line Bloomingdale’s to open in Glendale Galleria in Glendale, CA, in fall 2013.
The 120,000-square-foot store on two levels will headline an upscale redevelopment of the center being planned by its owner, General Growth Properties. The top two floors of the former Mervyn’s location will be entirely remodeled by Bloomingdale’s into a sophisticated upscale shopping experience, with construction expected to begin in 2012. The Bloomingdale’s store workforce is projected to include 175 associates.
(Editor’s Note: Macy’s, Inc. this morning also issued a separate news release announcing October sales results.)
“Bloomingdale’s business in southern California has developed rapidly since we opened our first store in the Los Angeles area in 1996. Glendale Galleria will be our eighth store in the market. Customers love our unique sense of contemporary style and the attentive service that sets Bloomingdale’s apart,” said Michael Gould, chairman and chief executive officer of Bloomingdale’s. “Much like Bloomingdale’s stores in Soho and Santa Monica, we expect our assortment and shopping experience in Glendale will be carefully edited for the community and customer.”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 seven 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 Commission.
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