Macy’s to close seven stores, five of them in downtown locations
Macy’s, Inc. announced plans to close seven stores early this spring. The units marked for closure include the 99,000-square-foot Bloomingdale’s Home Store at Fashion Show Mall, in Las Vegas, and six Macy’s stores around the country.
Five of the marked Macy’s stores are located in downtown shopping districts: a 791,000-square-foot store in Houston; a 362,000-square-foot store in St. Paul, Minn.; an 80,000-square-foot store in Honolulu; and a 75,000-square-foot store in Belmont, Mass.
Macy’s will also close its 158,000-square-foot store at the Paseo Colorado mixed-use project in Pasadena, Calif., and consolidate its two stores at Ridgedale Center, in Minnetonka, Minn., into one store early next year. The smaller one at Ridgedale Center will be closed and acquired by the mall’s owner, General Growth Properties, for redevelopment.
Meanwhile, nine new and replacement Macy’s and Bloomingdale’s stores are currently planned and/or under construction. The chain announced plans to open a 25,000-square-foot Bloomingdale’s Outlet store this fall at Fashion Outlets Chicago, in Rosemont, Ill.
“We remain committed to operating a successful and growing stores business as part of our company’s Omnichannel strategy for serving customers wherever, whenever and however they prefer to shop,” said CFO Karen M. Hoguet in a press release. “This leads us to open new stores where we see the opportunity to fill gaps in important markets, as well as to make the tough decision to selectively close underperforming stores that no longer meet our performance requirements or where leases are not being renewed.”
Once the dust settles, Macy’s will operate 798 stores, including 37 Bloomingdale’s and 13 Bloomingdale’s Outlet stores.