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May to open smaller new-concept stores
The May Department Stores Co., St. Louis, has announced plans to open smaller lifestyle stores in 2003 as part of its overall growth strategy. On the books so far are a Famous-Barr store in Columbia, Mo.; a Kaufman's store in Pittsburgh; and a Meier & Frank store in Ogden, Utah. "At 140,000 sq. ft., these stores can be located in small retail developments such as lifestyle centers or office/retail projects," says Gene Kahn, May's chairman and CEO. The company has also entered a licensing agreement to market home merchandise under Hearst Magazines' House Beautiful trademark in May's 362 full-line department stores beginning in 2005. May's Bridal Group will also open 30 David's Bridal stores, 15 After Hours stores and two Priscilla of Boston sites. The company plans to open 11 new department stores and remodeling or expanding 26 stores in 2003.
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