DSW Inc. will open at least three new stores in Manhattan, its CEO Michael MacDonald told Footwear News Tuesday night at the preview of the chain’s latest 35,000-sq.-ft. location on 34th Street.
As executives such as Jones Group Inc. President Rick Paterno, Modern Vintage CEO Rick Cytrynbaum and Steven Madden Ltd. CEO Ed Rosenfeld were spotted roaming the three-story store’s long aisles, MacDonald said, “We’re going to open a third location — at roughly 32,000 square feet — in two months on 79th Street and Broadway. And 15 months from now we’ll have four Manhattan stores, so stay tuned on that.”
The exec was mum on where the fourth door will be located, but revealed where he’s currently searching for a fifth.
“We had a deal for an Upper East Side store that fell through, so that would be the other place we’d look. Four or five stores will give us pretty great coverage [in the city,]” he said.
DSW recently picked up 17 new locations nationwide that were made available by the recent bankruptcy of Borders Group Inc.
“[Borders’] footprint is pretty close to ours, so it’s natural. We did it where it made sense, where we had a void and where we could afford it. That’s the reason this year we will open 35 to 40 stores instead of the 15 to 20 we’ve been opening,” said MacDonald.
DSW plans to report its fourth-quarter results on March 20. Its 34th Street store officially opens Thursday.
“I’m going to be here watching people walk in,” quipped MacDonald.