Macy’s plans to close 34 additional stores

|
Macy’s plans to close 34 additional stores
Image Credit: Dreamstime.com
Team Clark is adamant that we will never write content influenced by or paid for by an advertiser. To support our work, we do make money from some links to companies and deals on our site. Learn more about our guarantee here.
Advertisement

Macy’s isn’t finished shrinking its retail footprint quite yet.

The struggling department store chain has confirmed that it plans to close about 34 stores ‘over the next few years’ after shutting down 66 locations in fiscal year 2016.

The company has not yet revealed which locations may soon be on the chopping block.

Dozens of additional Macy’s stores to close 

Read more: 8 money-saving tricks to find amazing shoe deals at DSW

This news came as Macy’s reported a sales drop for the fourth quarter of 2016 and predicted a decline of about 2% to 3% for the 2017 fiscal year.

According to CNBC, it has been difficult to predict which Macy’s stores will be closed because the retailer remains profitable, unlike competitors Sears and Kmart.

Macy’s CEO Terry Lundgren emphasized that brick-and-mortar stores are key to its success.

He explained that Macy’s is working on key initiatives, such as improving its online business, increasing exclusive merchandise and refining its clearance and off-price strategy.

One thing Macy’s customers can look forward to in 2017 is more simplified pricing.

“Looking at the continued challenges in the retail environment and changing consumer shopping behaviors, we know we must evolve our strategy and execute faster,” Lundgren said. “Key to this is enhancing the customer experience in our stores where we are developing and testing concepts that feature new merchandise and entertainment options alongside enhanced technology to make shopping simpler. Additional initiatives that we believe will improve sales trends in 2017 include continued omnichannel improvements, an updated marketing strategy and a simplified pricing structure.”

Macy’s also announced that company president Jeff Gennette will take over as CEO on March 23. Lundgren will continue as executive chairman. 

Read more: These 9 retailers are closing nearly 1,000 stores in 2017

Here’s a list of the store closings Macy’s announced in January:

Already completed 2016 closings

  • Laurel Plaza, North Hollywood, CA (475,000 square feet; opened in 1995; 105 associates);
  • Ala Moana Jewel Gallery, Honolulu, HI (2,000 square feet; opened in 1986; 9 associates);
  • Valley Fair, West Valley City, UT (106,000 square feet; opened in 1970; 53 associates);

Already announced closings

Final clearance sales at the following Macy’s stores closing in early 2017 will begin on Monday, January 9, and run for approximately eight to 12 weeks (with the exception of Lancaster Mall*, where final clearance sales are already in progress):

  • Greenwood, Bowling Green, KY (124,000 square feet; opened in 1980; 63 associates);
  • Carolina Place, Pineville, NC (151,000 square feet; opened in 1993; 69 associates);
  • Douglaston, Douglaston, NY (158,000 square feet; opened in 1981; 144 associates);
  • Downtown Portland, Portland, OR (246,000 square feet; opened in 2007; 85 associates);
  • *Lancaster Mall, Salem, OR (67,000 square feet; opened in 1980; 53 associates);
  • Oakwood Mall, Eau Claire, WI (104,000 square feet; opened in 1991; 55 associates)

Additional closings

  • Mission Valley Apparel, San Diego, CA (385,000 square feet; opened in 1961; 140 associates);
  • Paseo Nuevo, Santa Barbara, CA (141,000 square feet; opened in 1990; 77 associates);
  • Lakeland Square, Lakeland, FL (101,000 square feet; opened in 1995; 68 associates);
  • Oviedo Marketplace, Oviedo, FL (195,000 square feet; opened in 2000; 83 associates);
  • Sarasota Square, Sarasota, FL (143,000 square feet; opened in 1977; 86 associates);
  • University Square, Tampa, FL (140,000 square feet; opened in 1974; 73 associates);
  • CityPlace, West Palm Beach, FL (108,000 square feet; opened in 2000; 72 associates);
  • Georgia Square, Athens, GA (121,000 square feet; opened in 1981; 69 associates);
  • Nampa Gateway Center, Nampa, ID (104,000, square feet; opened in 2009; 57 associates);
  • Alton Square, Alton, IL (180,000 square feet; opened in 1978; 54 associates);
  • Stratford Square, Bloomingdale, IL (149,000 square feet; opened in 1981; 87 associates);
  • Eastland, Bloomington, IL (154,000 square feet; opened in 1999; 55 associates);
  • Jefferson, Louisville, KY (157,000 square feet; opened in 1979; 52 associates);
  • Esplanade, Kenner, LA (188,000 square feet; opened in 2008; 101 associates);
  • Bangor, Bangor, ME (143,000 square feet; opened in 1998; 65 associates);
  • Westgate, Brockton, MA (144,000 square feet; opened in 2003; 79 associates);
  • Silver City Galleria, Taunton, MA (152,000 square feet; opened in 1992; 82 associates);
  • Lakeview Square Mall, Battle Creek, MI (102,000 square feet: opened 1983; 51 associates);
  • Eastland Center, Harper Woods, MI (433,000 square feet; opened in 1957; 121 associates);
  • Lansing, Lansing, MI (103,000 square feet; opened in 1979; 57 associates);
  • Westland, Westland, MI (334,000 square feet; opened in 1965; 106 associates);
  • Minneapolis Downtown, Minneapolis, MN (1,276,000 square feet; opened in 1902; 280 associates);
  • Northgate, Durham, NC (187,000 square feet; opened in 1994; 72 associates);
  • Columbia, Grand Forks, ND (99,000 square feet; opened in 1978; 53 associates);
  • Moorestown, Moorestown, NJ (200,000 square feet; opened in 1999; 107 associates);
  • Voorhees Town Center, Voorhees, NJ (224,000 square feet; opened in 1970; 77 associates);
  • Preakness, Wayne, NJ (81,000 square feet; opened in 1963; 72 associates);
  • Cottonwood, Albuquerque, NM (173,000 square feet; opened in 1996; 56 associates);
  • Las Vegas Boulevard, Las Vegas, NV (178,000 square feet; opened in 1966; 84 associates);
  • Great Northern, Clay, NY (88,000 square feet; opened in 1989; 55 associates);
  • Oakdale Mall, Johnson City, NY (140,000 square feet; opened in 2000; 58 associates);
  • The Marketplace, Rochester, NY (149,000 square feet; opened in 1982; 77 associates);
  • Eastland, Columbus, OH (121,000 square feet; opened in 2006; 73 associates);
  • Sandusky, Sandusky, OH (133,000 square feet; opened in 1979; 61 associates);
  • Fort Steuben, Steubenville, OH (132,000 square feet; opened in 1974; 59 associates);
  • Promenade, Tulsa, OK (180,000 square feet; opened in 1996; 58 associates);
  • Neshaminy, Bensalem, PA (211,000 square feet; opened in 1968; 89 associates);
  • Shenango Valley, Hermitage, PA (106,000 square feet; opened in 1976; 69 associates);
  • Beaver Valley, Monaca, PA (203,000 square feet; opened in 1987; 78 associates);
  • Lycoming, Muncy, PA (120,000 square feet; opened in 1995; 61 associates);
  • Plymouth Meeting, Plymouth Meeting, PA (214,000 square feet; opened in 1966; 74 associates);
  • Washington Crown Center, Washington, PA (148,000 square feet; opened in 1999; 67 associates);
  • Parkdale, Beaumont, TX (171,000 square feet; opened in 2002; 67 associates);
  • Southwest Center, Dallas, TX (148,000 square feet; opened in 1975; 68 associates);
  • Sunland Park, El Paso, TX (105,000 square feet; opened in 2004; 71 associates);
  • Greenspoint, Houston, TX (314,000 square feet; opened in 1976; 70 associates);
  • West Oaks Mall, Houston, TX (244,000 square feet; opened in 1982; 135 associates);
  • Pasadena Town Square, Pasadena, TX (209,000 square feet; opened in 1962; 78 associates);
  • Collin Creek, Plano, TX (199,000 square feet; opened in 1980; 103 associates);
  • Broadway Square, Tyler, TX (100,000 square feet; opened in 1981; 65 associates);
  • Layton Hills, Layton, UT (162,000 square feet; opened in 1980; 72 associates);
  • Cottonwood, Salt Lake City, UT (200,000 square feet; opened in 1962; 88 associates);
  • Landmark, Alexandria, VA (201,000 square feet; opened in 1965; 119 associates);
  • River Ridge, Lynchburg, VA (144,000 square feet; opened in 1980; 60 associates);
  • Everett, Everett, WA (133,000 square feet; opened in 1977; 109 associates);
  • Three Rivers, Kelso, WA (51,000 square feet; opened in 1987; 57 associates);
  • Valley View, La Crosse, WI (101,000 square feet; opened in 1980; 57 associates)

Other 2017 closings

  • Simi Valley Town Center (men’s/home/kids), Simi Valley, CA (190,000 square feet; opened in 2006; 105 associates);
  • Mall at Tuttle Crossing (furniture/home/kids/men’s), Dublin, OH (227,000 square feet; opened in 2003; 52 associates)

Stores sold (or to be sold) and leased back

These stores have been or will be sold, and Macy’s will continue to operate them on leases from the owners:

  • Stonestown Galleria, San Francisco, CA (280,000 square feet; opened in 1952; 204 associates);
  • Union Square Men’s, San Francisco, CA (248,000 square feet; opened in 1974; 256 associates; as previously announced);
  • Tyson’s Galleria, McLean, VA (265,000 square feet; opened in 1988; 122 associates; as previously announced)

 Clark’s take on Macy’s and Sears closings

Advertisement
Michael Timmermann paid off his mortgage in two years. Now, he shares his money-saving tips on his blog, MichaelSaves.com.
View More Articles
  • Show Comments Hide Comments