Popular department store Macy's (M) is planning on opening at least two new stores along the west coast of Lake Michigan within two years, according to published reports.
The Southridge Mall in Greendale, Wisconsin will see a 150,000 square foot, two-story department store open in Spring 2012, according to BizTimes.com . Then, one year later, Gurnee Mills in Gurnee, Illinois will see the opening of a 140,000, one-floor store.
"Chicago and Milwaukee are both very important Macy's markets where we believe we have untapped potential for growth," according to Ron Klein, Macy's chief stores officer. "With new stores in Gurnee Mills and Southridge, we can serve a larger number of customers with the localized assortments, distinctive fashion, obvious value and exciting shopping experience for which Macy's is known."
At 2:57 p.m. on Monday, Macy's stock climbed 0.63 percent, an 0.18 cent climb to $28.81 per share.
Monday's announcement about store openings comes less than six months after the Cleveland and New York-based chain closed at least three other stores, according to TheBostonChannel.com . Those three stores were in Chestnut Hill, Massachusetts; Austin, Texas and Union City, Georgia.
The Gurnee Mills Macy's will serve as the anchor of a new wing, according to NBC Chicago . The Southridge store, which will be the second in metropolitan Milwaukee, will employ about 160 people.
Macy's had fiscal 2010 sales totalling $25 billion.