Quite simply, Macy's and Bloomingdale's operate great stores - some of the best fashion retailing locations in America. A core strategic priority of the company today is to invest in improving the shopping experience in each location to maximize results from existing stores.

As part of a new My Macy's initiative in certain markets, we are empowering locally based executives to make more decisions about space allocations, service levels, special events and visual merchandising, which the company believes will enhance execution. Across the country, we continue to improve stores with Macy's "reinvent" elements, such as easy-to-see wayfinding signage and expanded fitting rooms with waiting areas.

Bloomingdale's stores also are being refreshed to support the updated fashion expectations of our customers. Department remodels in key stores provide an upscale ambience for new brands and styles, while service standards are being elevated through upgraded amenities such as personal shoppers, international visitors centers, expanded fitting rooms and clienteling systems.