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Small Format Stores

All articles tagged with #small format stores

business1 month ago•5 min saved

Best Buy's Growth Play: Tiny Stores, Big AI Ambitions Under New CEO

New Best Buy CEO Jason Bonfig plans a growth strategy centered on smaller-format stores (12k–15k sq ft, with examples around 18k and 28k) to expand reach and improve the customer experience, signaling a shift toward an AI-enhanced, human-powered retail model. Two new locations opened in Jonesboro, AR and Cape Cod, MA as proof of concept before Bonfig takes the helm this fall; the plan supplements—not replaces—existing larger stores, and comes as the company navigates currency tariffs, memory-chip costs, and a Covid-era demand lull, with FY sales expected to be roughly flat to up or down 1%.

via CNBC|

#ai #best-buy #business

business2 years ago•3 min saved

McDonald's introduces CosMc's, an out-of-this-world spinoff restaurant.

McDonald's is set to open its first CosMc's spinoff in Bolingbrook, Illinois, this week. The 10-store pilot concept will focus on specialty beverages and coffees, offering drinks like S'Mores Cold Brew and Turmeric Spiced Latte, as well as customizable teas and lemonades. The menu will also feature new food items such as a spicy queso sandwich, pretzel bites, and desserts. McDonald's CEO, Chris Kempczinski, sees specialty beverages as a fast-growing area for the company. The launch of CosMc's comes as McDonald's aims to capitalize on smaller-format stores and expand its digital and delivery business.

via Chicago Tribune|

#business #cosmcs #fast-food-industry

business2 years ago•2 min saved

Macy's Expanding Small-Format Stores Nationwide

Macy's plans to accelerate its expansion of small-format stores, with up to 30 new locations opening nationwide by fall 2025. The move is part of the company's strategy to adapt to the changing retail environment and compete with rivals like Target and Nordstrom. The smaller-format stores, ranging from 30,000 to 50,000 square feet, will be more efficient to operate and offer a curated selection of merchandise. Macy's aims to ensure long-term viability and deliver sustainable, profitable sales growth.

via Fox Business|

#business #competition #expansion

business2 years ago•4 min saved

Macy's Expands Store Footprint and Gives Back to Homeless Youth

Macy's plans to open up to 30 smaller stores in strip malls over the next two years as part of its strategy to attract customers away from dying malls and into bustling suburbs. These small-format stores, roughly one-fifth the size of its traditional mall stores, have proven to be successful with higher customer satisfaction and stronger sales growth compared to the rest of Macy's. The stores offer a curated mix of merchandise, spacious fitting rooms, and a more modern look. Macy's aims to appeal to younger consumers and differentiate itself from competitors by focusing on off-mall expansion and other growth drivers.

via CNBC|

#business #department-stores #macys