Macy’s And Bloomingdale’s To Anchor New Mall At Miami Worldcenter

Macy’s, Inc. (NYSE:M) today announced an agreement for Macy’s and Bloomingdale’s stores to anchor the new Mall at Miami Worldcenter to be built in downtown Miami. Current plans call for the stores to open in fall 2016.

Miami Worldcenter, a major mixed-use project with retail, hotel, residential and convention space, is being planned by The Forbes Company and Taubman Centers, Inc. The development is ideally located to attract both resident and tourist customers, with easy access to interstate highways and rail, museums, The Adrienne Arsht Center for the Performing Arts, American Airlines Arena and the Port of Miami cruise ship terminals.

The Macy’s and Bloomingdale’s stores – each on three levels – will anchor the north and south ends of the retail mall, respectively.

Macy’s

Macy’s will occupy a 195,000-square-foot store in the Mall at Miami Worldcenter with a full range of apparel and accessories for women, men and children, as well as housewares, home textiles, luggage, furniture and mattresses. Macy’s currently operates 27 stores in the Miami-Palm Beach market.

“Miami is a vibrant marketplace, and Macy’s is well-known to customers who are year-round and seasonal residents, as well as to visitors who come from around the world to enjoy south Florida’s weather, cultural, sports, entertainment and culinary attractions,” said Peter Sachse, Macy’s chief stores officer. “Miami Worldcenter promises to be a world-class attraction, and we look forward to enhancing our ability to serve customers with a tailored merchandise assortment and shopping experience that meets the needs of south Florida shoppers.”

Bloomingdale’s

Bloomingdale’s in the Mall at Miami Worldcenter will be 120,000 square feet, and include a specially edited assortment of fashion apparel, accessories, shoes, cosmetics and fragrances, and home goods. Bloomingdale’s currently operates four full-line stores and two Bloomingdale’s Outlet stores in the Miami-Palm Beach market.

“Bloomingdale’s knows the exceptional and distinctive fashion that makes south Florida an international hot spot,” said Michael Gould, Bloomingdale’s chairman and chief executive officer. “Customers look to Bloomingdale’s for styles and looks that set the trends in an environment of attentive, personalized service. That is what they will find in our new store in Miami. It will be the best that Bloomingdale’s has to offer for this savvy fashion customer.”

Macy’s, Inc., with corporate offices in Cincinnati and New York, is one of the nation’s premier retailers, with fiscal 2012 sales of $27.7 billion. The company operates about 840 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 13 Bloomingdale’s Outlet stores. Bloomingdale’s in Dubai is operated by Al Tayer Group LLC under a license agreement.

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 and non-recurring charges, competitive pressures from specialty stores, general merchandise stores, off-price and discount stores, manufacturers’ outlets, the Internet, mail-order catalogs and television shopping 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.

(NOTE: Additional information on Macy’s, Inc., including past news releases, is available at www.macysinc.com/pressroom).

Copyright Business Wire 2010

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