also owns the department store chains Bloomingdale's and Macy's, and beauty store chain Bluemercury, all of which operate flagship stores in Manhattan. As of October 2022, it operates 722 locations in the United States, Guam, and Puerto Rico. The decision to open small-format stores is a strategic one.

These stores are designed to bring the brand closer to existing and potential customers while encouraging more frequent visits. They will be located in off-mall shopping centers, providing a seamless shopping experience that combines the best of on- and off-mall locations.

This expansion plan is not the company's first foray into small-format stores. In fact, by the end of 2023, there will be 12 Macy's small-format stores and three Bloomie's locations. The upcoming expansion in 2024 is an addition to these existing locations, demonstrating the company's commitment to this new retail format.

The small-format stores will offer a curated assortment of Macy's distinctive fashion, on-trend beauty, luxury fragrances, and more. They will also collaborate with local businesses to create pop-up shops and events that cater to customer preferences. The stores will feature elevated fitting…