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Macy's Closing 45 Locations Nationwide

Prior to the Covid-19 pandemic, Macy’s had already announced the closure of 125 of their locations as part of a restructuring. While these recently announced 45 store closures are part of the original 125, the Covid-19 pandemic has added pressure speeding up some of these closures in underperforming malls around the country. 

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Macy’s has released the list of stores to close by April 30th of this year. Liquidation has already begun for the majority of these locations. Stores that are expected to close in 2021 include:

  1. Paradise Valley, AZ
  2. El Cajon Parkway, CA
  3. Hilltop, CA
  4. Brass Mill Center, CT
  5. Crystal Mall, CT
  6. Port Charlotte Town Center, FL
  7. Volusia Mall, FL
  8. Greenbriar, GA
  9. Hyatt Regency (Maui), HI
  10. Grand Teton Mall, ID
  11. Water Tower Place, IL
  12. College Mall, IN
  13. Marlow Heights, MD
  14. Independence Center, MO
  15. Northpark Mall, MO
  16. West Park Mall (MO), MO
  17. Sangertown Square, NY
  18. White Plains Galleria, NY
  19. Great Lakes Mall, OH
  20. Richland Mall, OH
  21. Tri-County Mall, OH
  22. The Avenue Carriage Crossing, TN
  23. Old Hickory Mall, TN
  24. Golden Triangle, TX
  25. Post Oak Mall, TX
  26. Rivercenter, TX
  27. Rolling Oaks, TX
  28. Vista Ridge Mall, TX
  29. Commons at Federal Way, WA
  30. Northtown, WA
  31. Monterey, CA (Furniture)
  32. Winter Haven, FL
  33. Cambridgeside, MA
  34. Lima, OH
  35. Lloyd Center, OR
  36. Santa Monica, CA (Bloomingdale’s)
  37. South Towne Center, UT

Stores the brand has already closed as part of this round are:

  1. Park Place, AZ
  2. Oakbrook, IL
  3. Woodfield, IL 
  4. Commack, NY
  5. Eastland, OH
  6. Harrisburg, PA
  7. Medinah Temple, IL (Bloomingdale’s)
  8. Southwest Plaza, CO
  9. Dover Mall, DE

To make matters worse, the company is expected to cut another 2,000 jobs in 2021, or nearly 10% of their current workforce.This will be in addition to the 3,900 layoffs from last summer. 

On a positive note, the brand plans to open smaller, “off-mall,” locations moving forward. Macy’s CEO Jeff Gennette told CNBC last year that “we know Macy’s and Bloomingdale’s have high potential [off]-mall and in smaller formats.” They’ve also noted a nearly 53% jump in e-commerce sales in 2020 compared to 2019.

Are you one of the unfortunate shopping centers where Macy’s will be shutting their doors? Now is the time to start looking for potential new tenants to fill a potential large vacancy. Do you manage smaller shopping centers that could be a good fit for one of Macy’s new stand-alone concepts? Let Retailsphere help you reach out and connect with site selectors today.

Sign up for a no-obligation demo of Retailsphere today and see how simple your tenant search can be. 

Tags: Store Closure, Bankruptcy

Written by Barton Strawn