Macy’s Inc. Sets Major Round of Liquidations
By David Moin on January 6, 2021
Thirty-seven closings in 2021 are part of a three-year downsizing which began last year eliminating approximately 125 stores.
Macy’s Inc. is embarking on going-out-of-business sales at 35 Macy’s stores and one Bloomingdale’s location, most of which will commence next week.
The liquidations are expected to last for eight to 12 weeks before the stores permanently shut down.
Another five Macy’s locations will liquidate later this year.
The closings are part of the Macy’s Inc. plan, revealed in February 2020, to close about 125 of its least productive stores over the next three years. Included in the 125 closings are about 30 stores that were unveiled in January 2020.
Macy’s, long considered over-stored partly stemming from its 2005 acquisition of May Co., determined the closings based on a store-level assessment of each unit’s overall value to the fleet, including predicted profitability based on consumer trends and demographics. The 125 stores represent $1.4 billion in annual sales.
Since the announcement, the company shut down Macy’s units in Park Place, Ariz.; Commack, N.Y., and Harrisburg, Pa; Macy’s furniture stores in Oakbrook and Woodfield, Ill.; a Macy’s furniture clearance unit in Eastland, Ohio, and the Bloomingdale’s Medinah Temple store in Chicago. In addition, two stores, in Southwest Plaza, Colo., and Dover Mall in Delaware were converted to omni-service centers. MACY’S INC. CLOSINGS BEGINNING NEXT WEEK: 1. Paradise Valley, Ariz.
2. El Cajon Parkway, Calif.
3. Hilltop, Calif.
4. Santa Monica, Calif. (Bloomingdale’s) 5. Brass Mill Center, Waterbury, Conn.
6. Crystal Mall, Waterforf, Conn.
7. Port Charlotte Town Center, Port Charlotte, Fla.
8. Volusia Mall, Daytona Beach, Fla.
9. Greenbriar, Ga.
10. Hyatt Regency, Hawaii
11. Grand Teton Mall, Idaho Falls, Id.
12. Water Tower Place, Chicago
13. College Mall, Bloomington, Ind.
14. Marlow Heights, Md.
15. Independence Center, Md.
16. Northpark Mall, Joplin, Mo.
17. West Park Mall, Cape Girardeau, Mo.
18. Sangertown Square, New Hartford, N.Y.
19. White Plains Galleria, White Plains, N.Y. 20. Lima, Ohio
21. Great Lakes Mall, Mentor, Ohio
22. Richland Mall, Ontario, Ohio
23. Tri-County Mall, Springdale, Ohio
24. The Avenue Carriage Crossing, Collierville, Tenn.
25. Old Hickory Mall, Jackson, Tenn.
26. Golden Triangle, Texas
27. Post Oak Mall, College Station, Texas
28. Shops at Rivercenter, San Antonio, Texas
29. Rolling Oaks, Texas
30. Music City Mall, Lewisville, Texas
31. Commons at Federal Way, Wash.
32. Northtown, Wash. 33. Monterey, Calif. (furniture store) 34. Winter Haven, Fla. 35. Cambridgeside, Mass. 36. Lloyd Center, Portland, Ore. MACY’S CLOSING LATER THIS YEAR 37. South Towne Center, Sandy, Utah