Macy’s to Anchor New Regional Mall in Hawaii
May 29 2014 - 3:00PM
Business Wire
Macy’s, Inc. (NYSE:M) today announced an agreement for Macy’s to
anchor the new Ka Makana Ali‘i in Kapolei in West O‘ahu, Hawaii.
Subject to satisfying final lease provisions, current plans call
for the store to open in mid-2016.
Macy’s will occupy a 103,000-square-foot, one-level store in Ka
Makana Ali‘i with a full range of apparel and accessories for
women, men and children, as well as home merchandise. Macy’s
currently operates 17 stores in Hawaii, including eight on the
island of O‘ahu. The new Macy’s store is expected to employ
approximately 180 associates.
Ka Makana Ali‘i, a major mixed-use project with more than 100
retail, hotel, dining, entertainment and office components, is a
project of DeBartolo Development in partnership with the Department
of Hawaiian Home Lands. With 1.4 million square feet on 67 acres,
it will be the first all-new regional shopping center to be built
in Hawaii in more than 30 years. Macy’s is planned to be the
largest single retail tenant in the center. When completed, Ka
Makana Ali‘i will be among the largest shopping centers in
Hawaii.
“West O‘ahu is a vibrant marketplace for residents, tourists and
military families, and Macy’s will be the first fashion department
store in this area,” said Peter Sachse, Macy’s chief stores
officer. “It will be a great place for us to serve customers with a
tailored merchandise assortment and shopping experience that meets
the needs of Hawaii’s residents and visitors. We look forward to
being part of this very special community.”
Macy’s, Inc., with corporate offices in Cincinnati and New York,
is one of the nation’s premier retailers, with fiscal 2013 sales of
$27.931 billion. The company operates about 840 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 13
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. In light of these risks and uncertainties, readers
are cautioned not to place undue reliance on forward-looking
statements. Except as may be required by applicable law, Macy’s
disclaims any obligation to update its forward-looking statements
for any reason.
(Note: additional information on Macy’s, Inc., including past
news releases, is available at www.macysinc.com/pressroom.)
Macy’s, Inc.Media - Jim Sluzewski, 513-579-7764Investor – Matt
Stautberg, 513-579-7780
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