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In late April, Macy’s will roll out its outlet store inside its Gwinnett Place Mall location. The strategy, which comes as the department store has been showing declining profits and sales for a while now, is to drive traffic into the traditional store.
Traditional malls everywhere are tweaking their tactics to add more experiential elements, allowing them to compete not only with online retailers, but also newer developments that cater to those in search of a different shopping experience.
Last year, Macy’s announced it was cutting approximately 5,000 jobs and closing 40 stores, with pressure to sell real estate.