Market Overview

Macy's to Open New Puerto Rico Store

CINCINNATI--(BUSINESS WIRE)--

Macy's, Inc. (NYSE: M) today announced that Macy's plans to open a new store in Ponce, PR, in fall 2015. The two-level store of 150,000 square feet will be located in Plaza Del Caribe, the largest mall in southern Puerto Rico, owned by Empresas Fonalledas.

Macy's Ponce store will include an assortment of fashion goods for women, men, children and home that is tailored to the preferences of the Puerto Rican customer. Construction is expected to begin in 2014. Macy's Ponce store is expected to employ a workforce of approximately 275 associates.

“We look forward to the opportunity to serve the large and dynamic market in southern, central and western Puerto Rico with the distinctive fashion, great value and exciting shopping experience for which Macy's is well known,” said Peter Sachse, Macy's chief stores officer. “Macy's has been warmly received by Dr. María Meléndez Altieri, Mayor of Ponce, and her staff. We appreciate their support, and look forward to Macy's being a good employer and involved citizen of the Ponce community.”

Ponce will be Macy's second store in Puerto Rico. A very successful existing location in Plaza Las Américas in San Juan opened in 2000.

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 12 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).

Macy's, Inc.
Media
Jim Sluzewski, 513-579-7764
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Investor
Matt Stautberg, 513-579-7780

 

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