Macy's Announces the Opening of the Fourth Bloomie's Store

Macy’s, Inc. M announced that Bloomingdale's will open its fourth Bloomie's store format on Nov. 14, 2024, at The Grove Shopping Center in Shrewsbury, NJ. This new location will be the first Bloomie's to feature an all-women assortment, offering a curated selection of contemporary ready-to-wear accessories, beauty products and the brand's most elevated fine jewelry collection. 

It will also be the first Bloomie’s in the New Jersey trade area, joining the four full-line Bloomingdale's stores and three outlet locations currently operating in Short Hills, Bergen, Willowbrook, Bridgewater, Princeton and Jersey Gardens.

Bloomingdale’s is the only nationwide full-line upscale department store in America and is a division of Macy’s. Currently, Bloomingdale’s operates 32 Bloomingdale’s stores, 21 Bloomingdale’s The Outlet stores and four Bloomie’s stores across the United States, with locations in California, Connecticut, Florida, Georgia, Hawaii, Illinois, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Texas, Virginia and Washington.

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Macy’s Curated Collection of Leading Brands and Designers

With this launch, Bloomingdale's aims to enhance convenience for loyal shoppers in Central Jersey, allowing them access to top designers and categories in one place. Shoppers can expect to find must-have items and the latest trends from leading brands like Mother, Veronica Beard, Rag & Bone, Cinq a Sept, L'Agence, Staud, Tory Burch, Chanel Beauty, Charlotte Tilbury, Roberto Coin and others.

This highly curated collection of brands represents the evolving needs of Bloomie's customers and their preferences for exclusive and contemporary fashion. The Shrewsbury Bloomie's marks a significant milestone for the brand, being the first women-only location further strengthening Bloomingdale's presence in the New Jersey market. By focusing solely on women's fashion and accessories, the store aims to create a more personalized and accessible shopping experience for customers in the region.

Macy’s Grand Opening Celebrations Plans

To celebrate the grand opening of Bloomie’s at The Grove, a series of events and activations will be held throughout the weekend to introduce the store to the local community. The celebrations will start with the Bloomie’s Winter Village event on the opening day, featuring a winter wonderland experience with branded activities, fashion presentations, exclusive gifts and more. A festive ribbon-cutting ceremony will also take place as part of the official launch.

On Dec. 7, Bloomie’s will host a special Holiday Bash, where guests can enjoy a private sip-and-shop experience before store hours, accompanied by brunch, music and giveaways. The event will include a meet-and-greet with Santa, holiday treat carts, music and brand activations offering customization opportunities and other unique experiences. The celebrations will continue throughout the day, creating a festive atmosphere for shoppers.

Conclusion

Renowned for its highly curated collections, exclusive brand partnerships and dedication to premium customer service, Bloomingdale’s has established itself as a leader in the upscale retail market. The grand opening of Bloomie’s marks an exciting new chapter for Bloomingdale's in New Jersey. With its exclusive all-women assortment and a focus on personalized service, the store aims to create a unique shopping experience for the Central Jersey community. 

As Bloomingdale's flourishes, Macy's is also striving to solidify its status as a premier destination for diverse shopping needs. However, the company faces headwinds, including inflation, ongoing geopolitical tensions and a contentious presidential election, which are expected to influence consumer behavior and lead to more cautious spending. Shares of this Zacks Rank #4 (Sell) company have lost 17.7% in the past six months compared with the industry’s 15.1% decline.

Stocks to Consider

Some better-ranked stocks are Nordstrom Inc. JWN, Abercrombie & Fitch Co. ANF and Crocs, Inc. CROX.

Nordstrom is a leading fashion specialty retailer in the United States. The company offers an extensive selection of both branded and private-label merchandise. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Nordstrom’s fiscal 2024 sales indicates growth of 0.6% from the fiscal 2023 figure. JWN has a negative trailing four-quarter average earnings surprise of 17.8%.

Abercrombie is a specialty retailer of premium, high-quality casual apparel. It sports a Zacks Rank of 1 at present. ANF delivered a 16.8% earnings surprise in the last reported quarter. 

The consensus estimate for Abercrombie’s fiscal 2025 earnings and sales indicates growth of 63.4% and 13%, respectively, from the fiscal 2024 levels. ANF has a trailing four-quarter average earnings surprise of 28%.

Crocs offers a wide variety of footwear products, including sandals, wedges, flips and slides that cater to people of all ages. The company currently carries a Zacks Rank #2 (Buy). 

The Zacks Consensus Estimate for Crocs’ 2024 earnings and sales indicates growth of 7.1% and 4.2%, respectively, from the 2023 actuals. CROX has a trailing four-quarter average earnings surprise of 14.9%.

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Macy's, Inc. (M): Free Stock Analysis Report
 
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