Macy's Upgrades Herald Square Flagship for $400M

Macy's announced plans to invest in a four-year, $400 million upgrade of its flagship store in Herald Square in New York City. The upgraded store will have expanded selling space and be equipped with more technology, including interactive product directories and streaming videos as well as an app for the outlet. Work will begin in early spring 2012 and continue in phases through the fall of 2015.
"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," says Terry J. Lundgren, CEO of Macy's. "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. 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."
Key elements of the remodel project include:
• 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 signage and a new mobile app to guide customers as they shop.
• Creating a 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.
• A 100,000-square-foot expansion of the store's selling space to a total of 1.2 million square feet.
• The world's largest women's shoe department — a total of 39,000 square feet of continuous selling space on the second floor. The department will offer as many as 300,000 pairs of shoes.
• 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%.
"Our design of the new Macy's Herald Square reflects how a new generation of customers prefers to shop," says Lundgren.
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