Both announced last week that they would open more small-format locations.
In recent years, Macy's opened eight small-format stores called Market by Macy's, the company's foray into off-mall boutique-sized locations, along with a small-format Bloomingdale's concept called Bloomie's.
Last October, the company announced it was expanding its small-format stores, aiming to add 30 locations by the end of 2025.
Meanwhile, Best Buy is set to overhaul its in-store experience for customers as it also eyes a retail landscape where small-format stores are becoming more prevalent.
"Second, we will test our ability to close a large-format store and open a small-format store nearby, thereby maximizing physical store retention through convenience."
Persons:
—, Macy's, Tony Spring, Corie Barry
Organizations:
Service, The Washington, Business, Nordstrom, Target, The New York Times, Macy's