Macy's CEO Jeff Gennette said in a virtual chat with investors and analysts the retail giant will begin reopening its stores, which have been closed since March 17, on May 4.
That will start with 68 locations in states where nonessential retailers are allowed to reopen, followed by an additional 50 stores on May 11, the Cinncinnati Business Courier reported.
The Wall Street Journal reported April 30 the initial 68 stores will open in Georgia, South Carolina, Oklahoma, Texas and Tennessee with reduced hours of 11 a.m. to 7 p.m.
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Charlotte-based Belk began a multi-phase reopening yesterday at stores in South Carolina, Georgia, Tennessee, Arkansas and Oklahoma. Those stores will operate from noon until 6 p.m.
Gennette said he believes the majority of Macy's (NYSE: M) 775 stores – under the brands Macy's, Macy's Backstage, Bloomingdale's, Bloomingdale's Outlet, Bluemercury and Market by Macy's – will be able to reopen in the next six to eight weeks.
"Our business model was not built to sustain the full closure of our stores for an extended period of time, so we're pulling every lever to keep the business stable and preserve cash while our stores are closed," Gennette said.
Macy's had been offering limited curbside pickup at about 20 locations over the past week, .
Macy's has historically been headquartered in Cincinnati and New York City and is in the process of winding down operations at its downtown Cincinnati facility.
Macy's operates about 680 Macy's and Bloomingdale's department stores as well as 190 specialty stores under the Bloomingdale's The Outlet, Bluemercury and Macy's Backstage banners. It reported $24.5 billion in revenue in 2019.
Belk expect additional re-openings throughout May and will follow local and state protocol, the Charlotte Business Journal reported. Belk has nearly 300 locations across 16 states in the U.S., primarily in the Southeast.
The retailer closed its stores on March 17 in response to the Covid-19 pandemic.
Belk says it will adhere to social-distancing standards and limit the number of people shopping in its stores.
It also is launching a free curbside pickup service at most stores for another limited-contact shopping option. Orders can be placed on Belk.com or via Belk’s mobile app. Same-day pickup is available within two hours on orders placed by 1 p.m.
“While the shopping experience may look a little different, our commitment to offering quality products at a value customers deserve, providing exceptional service, and helping our local communities remains true to who we are,” says Lisa Harper, Belk CEO.
Belk was founded in the Charlotte area in 1888 by the Belk family. The private company was acquired in 2015 by New York private equity firm Sycamore Partners for about $3 billion.
Andy Brownfield manages the newsroom staff and oversees daily reporting. He also founded and co-hosts the Courier’s weekly podcast, "Above the Fold." Andy joined the Courier in 2013, covering restaurants, GE Aerospace and Procter & Gamble. He earned a master's degree in public affairs reporting from the University of Illinois Springfield and a bachelor's degree from the Scripps School of Journalism at Ohio University.
Jennifer Thomas covers retail, restaurants, hospitality and tourism for the Charlotte Business Journal.
