Macy’s, Inc. (NYSE:M) today announced two store projects to enhance its presence in the Las Vegas market:
- Macy’s will build a two-level, 180,000-square-foot store in the highly anticipated Shops at Summerlin, a new shopping venue in west Las Vegas being developed by The Howard Hughes Corporation. This will be Macy's first new full-line store to be built in the Las Vegas market since 1996, and will include fashions for women, men, children and home. Macy’s store is expected to open in fall 2014, with construction beginning in fall 2013. Macy's will be an anchor of the 1.5 million-square-foot development – which will feature over 125 stores and restaurants, creating a vibrant, walkable urban core for the west Las Vegas community. The complex will be located along the Western Beltway (I-215) with access from Charleston Boulevard and Sahara Avenue. An estimated 160 Macy’s associates will serve customers at the Shops at Summerlin.
- Macy’s will expand its presence in the highly successful Fashion Show Mall on South Las Vegas Boulevard with a new two-level, 105,000-square-foot Macy’s Men’s Store to open in spring 2013. Today, Macy’s operates a full-line store with 201,000 square feet in this mall. After an expanded men’s department is moved to the new store across the mall corridor, the current main store will be significantly remodeled by fall 2013 primarily to increase selling space for women’s accessories, including handbags, shoes, fashion jewelry and fine jewelry. The new Macy’s Men’s Store will be located in a former Robinson’s-May location that currently is vacant. Macy’s will occupy about half the space, with construction expected to begin in October 2012. The remainder of the vacant space will be returned to the mall owner, General Growth Properties (GGP). GGP will add approximately 68,000 square feet of leasable small shop space in the Macy’s wing. New tenants are anticipated to open for business in this wing in 2013 and 2014. The current Macy’s Fashion Show Mall workforce of 495 associates is expected to expand to 560 associates by the end of 2013.
With these two new locations, Macy’s presence in the Las Vegas market will expand to a total of seven stores.
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