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May to Get Bigger and Smaller

Department store retailer's growth plans include some smaller new-concept stores

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The May Department Stores Co. (St. Louis) told shareholders that growth remains the company's top priority. “All of our initiatives focus on growing sales by creating a better shopping experience,” said chairman and ceo Gene Kahn.

In addition to a number of merchandising and fashion initiatives introduced throughout the chain's various nameplates last year, Kahn noted new innovations in store design, “in response to customers' requests for greater convenience and ease of shopping. Three new-concept stores were opened in 2002,” he mentioned, “that feature a contemporary look with exciting interiors and flexible merchandise presentations, along with upscale shopping carts and express checkout for heightened customer service.

“At 140,000 square feet,” said Kahn, “these stores can be located in small retail developments such as lifestyle centers or office/retail projects.”

He noted that three additional lifestyle stores will open in 2003 — a Famous-Barr store in Columbia, Mo.; a Kaufmann's store in Pittsburgh; and a Meier & Frank store in Ogden, Utah.

Kahn also discussed a new licensing agreement with Hearst Magazines to jointly market a wide selection of home merchandise under the House Beautiful trademark. The merchandise — which ranges from home decor to textiles to dinnerware — will debut in May's 362 full-line department stores beginning in 2005.

In 2003, the company's $600 million capital expenditure plan includes opening 11 new department stores and remodeling or expanding 26 stores. The Bridal Group plans to open 30 David's Bridal stores, 15 After Hours stores, and two Priscilla of Boston stores. To date this year, four department stores have opened: two Kaufmann's stores in Columbus, Ohio; a Filene's store in Brockton, Mass.; and a Foley's store in Houston.

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