CINCINNATI--(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.)