Macy’s flagship to undergo $400M renovation

TRD New York /
Nov.November 01, 2011 01:09 PM

The Macy’s in Herald Square is getting a four-year, $400 million renovation, the company announced this morning.

The renovation will begin in the early spring and continue through the fall of 2015, and all the while, the store will remain open. The project includes adding 100,000 square feet of shopping space — bringing the total selling footprint to 1.2 million square feet — by re-purposing stock and office rooms and extending the mezzanine. The entire structure at 154 West 34th Street is about 2.2 million square feet.

Other notable features of the renovation include the creation of the largest women’s shoe department in the world, a new restaurant on the sixth floor and a pub on the lower level that will remain open beyond store hours. The project also calls for the restoration of the store’s exterior, its “great hall,” and all but one of the location’s 43 wooden escalators.

Herald Square “is our company’s most productive store, and experience shows that improvements in this location consistently result in higher customer traffic and sales volume,” said Macy’s Chairman, President and CEO Terry Lundgren in a statement. “Our upcoming top-to-bottom remodel represents an investment in the future growth of our business as New York City continues to evolve as a world capital and shopping destination.”

The project will create about 1,600 construction-related jobs, and by the end of 2015 Macy’s will add about 800 new positions to the existing 4.600-person workforce. — Adam Fusfeld


Related Articles

arrow_forward_ios
A report found that 45 percent of retailer bankruptcies over the past 15 years led to liquidation (Credit: iStock)

For retailers, bankruptcy more likely to end in liquidation

Fairway Market (Credit: Getty Images)

Fairway Market files for bankruptcy, plans to sell stores

(Credit: Getty Images)

Express to close 100 stores, stock jumps 21%

Abercrombie and Fitch CEO Fran Horowitz and an aerial view of 600 Broadway, blocked by 606 Broadway (Credit: Getty Images, Google Maps)

The curious case of 600 Broadway

Opening Ceremony founders Humberto Leon and Carol Lim and the brand's Soho location at 35 Howard Street (Credit: Getty Images, Google Maps)  

Opening Ceremony is the latest Soho retailer to close

Town & Country Crossing in Town & Country, MO; The Crossroads in Royal Palm Beach, FL; and Mission Bay Plaze in Boca Raton, FL

Here’s why open-air strip centers are outperforming enclosed malls

The Wizarding World of Harry Potter (Credit: Getty Images)

Harry Potter-themed store probably won’t get its dragon

591-593 Broadway (Credit: Google Maps)  

Another pricey retail building in Soho is up for sale

arrow_forward_ios
Loading...