As part of a strategy to attract more shoppers and make its stores more exciting, Macy's is betting on two things: a roof-top, and the fashion assortment. The retailer is considering plans to develop the rooftop of its massive 2.2 million-square-foot iconic Herald Square flagship store, adding restaurants and open green space. The rooftop idea is meant to encourage people to meander through the store either on their way up to or down from the attractions on the roof.

As for the assortment, Macy's plans on delivering better fashion. Part of this effort will focus on adding special lines of Macy's-exclusive products -- known as capsule collections -- from national brands such as Levi Strauss & Co. and Ralph Lauren. Macy's Chief Executive Officer Jeff Gennette sees 40% of the department store's inventory as unique to Macy's in 2020, up from 29% today. "It's a collaboration," he said. "Our bigger issue is not jumping at every exclusive opportunity that comes our way from our vendors, it's being selective." The company also is building up its e-commerce site and rolling out its discount division, Backstage, in an effort to drive more traffic into stores. Macy's is also trimming its catalog of products, trying to edit down its assortment to reduce clutter and remove items that duplicate each other. Gennette wants fewer distractions for shoppers, who he believes desire clearer choices. He also said the company is considering the brand's appeal to international consumers, with a particular focus on China, where Macy's has a partnership with Alibaba's Tmall platform.