Macy's plans to spend $400 million and three years on an extensive makeover of its iconic Herald Square flagship in New York City, adding 100,000 square feet of selling space, building the world's biggest women's shoe store and adding 22 restaurants and foodservice areas, including an eatery with views of the Empire State Building. Renovations at the building Macy's built in 1931 are slated to start early next year and finish in 2015.

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