Macy's closing 4 Downtown stores across US

[dave8721]

Originally Posted by mhays

Selling a building doesn't always mean closing the store. It's often a way to cash out that value, then you lease the building back.

True but it does say that interested buyers include Nordstrom and Old Navy. They probably wouldnt be buying it to lease back.

[mhays]

True that.

[pdxstreetcar]

Downtown Portland Macy's Closing.

Cant say it was a surprise given how neglected the store was by Macys. This was mostly about the prime real estate for creative office space since Macy's is selling off their prime assets.

[NorthernDancer]

Originally Posted by pdxstreetcar

Downtown Portland Macy's Closing.

Cant say it was a surprise given how neglected the store was by Macys. This was mostly about the prime real estate for creative office space since Macy's is selling off their prime assets.

Does that leave dt. Portland with only one dept. store remaining (Nordstrom)?

[Pavlov's Dog]

Originally Posted by NorthernDancer

Does that leave dt. Portland with only one dept. store remaining (Nordstrom)?

If you consider Nordstrom a department store then that is correct. Nordstrom is more of a clothing, shoes, cosmetics and jewelry store though. You can't buy furniture or kitchen items.

Note also that just across the river from downtown is the Lloyd Center which still has a Macy's as well as a Sears. The Nordstrom there consolidated its city center operations downtown which is a better demographic for them, the cost of parking is not a major issue for Nordstrom's customer base but the downtown vibe and office worker base is a positive factor. Macy's gets lower operating costs and much easier parking for it's customers by consolidating at the Lloyd Center.

[spyguy]

Half of Macy's State Street flagship now for sale

Macy's puts State Street flagship up for sale — at least, top half of it

More than a year after first dropping hints about cashing in on its State Street store, Macy's is making it official: It's ready to sell.

The Loop flagship is formally for sale — or, to be more precise, the top half of the building is available to potential buyers or joint venture partners. The deal could generate as much as $130 million for Macy's at a time when it is slashing costs and closing stores throughout the country.

Macy's spokeswoman Andrea Schwartz confirmed in an email that the company plans to sell the eighth through the 14th floors of the building, encompassing 700,000 square feet. She did not say how much the company expects the real estate to fetch in a sale.

[Pedestrian]

In San Francisco, Macy's grew by annexing the space of adjacent department stores that went out of business and physically combining the buildings. Originally, their building was the center of a group on the south side of Union Square. Then they bought the I. Magnin building next door and basically had ⅔ of the block. Then they bought the Liberty House building across the street (Stockton St.) and made it their Men's Store.

Now they are shrinking back to something like their original footprint by selling off the other real estate for its probable conversion (at least the upper floors) to office or some other use.

It's worth noting that remaining in the Union Square area of SF are the following large department stores (besides the smaller Macy's which is still sizeable): Nordstrom, Bloomingdale's, Barney's New York, Saks Fifth Ave, Nieman-Marcus.

[NorthernDancer]

Originally Posted by Pedestrian

In San Francisco, Macy's grew by annexing the space of adjacent department stores that went out of business and physically combining the buildings. Originally, their building was the center of a group on the south side of Union Square. Then they bought the I. Magnin building next door and basically had ⅔ of the block. Then they bought the Liberty House building across the street (Stockton St.) and made it their Men's Store.

Now they are shrinking back to something like their original footprint by selling off the other real estate for its probable conversion (at least the upper floors) to office or some other use.

It's worth noting that remaining in the Union Square area of SF are the following large department stores (besides the smaller Macy's which is still sizeable): Nordstrom, Bloomingdale's, Barney's New York, Saks Fifth Ave, Nieman-Marcus.

With all the closing of department stores, downtown Toronto has actually gone from 4 to 5 department stores:

Bay Queen Street (one of the largest stores in the world)
Bay Bloor Street
Saks Fifth Avenue (opened last year)
Nordstrom (opened last year in former Sears space)
Holt Renfrew (there are plans to expand it vertically from it's current 4 floors to 8 floors)

There was also speculation that Neiman Marcus or Bloomingdale's might open a store in the 1 Bloor Street East development. We shall see.


Overall there's been at least 7 new upscale/upscalish department stores open in Toronto + Mississauga in the last year or so:

Nordstrom downtown Toronto
Nordstrom Sherway Gardens
Nordstrom Yorkdale Mall
Saks Fifth Avenue downtown Toronto
Saks Fifth Avenue Sherway Gardens
Holt Renfrew Square One (Mississauga)
Simons Square One (Mississauga)

The downtown Saks, downtown Nordstrom, and Square One Simons all took existing space, but I believe the other 4 stores were all new construction.

[Pedestrian]

Originally Posted by NorthernDancer

With all the closing of department stores, downtown Toronto has actually gone from 4 to 5 department stores:

Bay Queen Street (one of the largest stores in the world)
Bay Bloor Street
Saks Fifth Avenue (opened last year)
Nordstrom (opened last year in former Sears space)
Holt Renfrew (there are plans to expand it vertically from it's current 4 floors to 8 floors)

There was also speculation that Neiman Marcus or Bloomingdale's might open a store in the 1 Bloor Street East development. We shall see.

With the exception of Macy's and Nordstrom, Hudson Bay is rumored to be buying almost very other long-standing department store chain. Seems likely they would be interested in having a "flagship" location of whatever they do acquire in the largest city of their home country. But I really think old-style department stores are dinosaurs and I worry for the fabric of cities where they occupy a lot of space because I don't know who will take over as they keep cutting back (which I think they will). I was thinking the other day I literally can't remember when I was in a department store last and, whenever it was, it was likely in the kitchenwares department, not clothes. In actuality, if I know what I want I usually buy it online but if I want to browse I go to the stores' discount outlets (which in SF are only a few blocks away): Nordstrom Rack, Saks Off-Fifth, Nieman's Last Call.

[iheartthed]

Macy's is on a cutting spree again. Here are the downtown/urban locations that the company just announced will be closing:

750 W 7th St. (Los Angeles)
414 K St. (Sacramento)
422 Fulton St. (Brooklyn)
88-01 Queens Blvd. (Queens)
1300 Market St. (Philadelphia)

The Macy's stores in downtown Brooklyn and Philadelphia's Market Street are located in historic buildings that are more than 100 years old. It's also interesting that the downtown Brooklyn location has struggled while the retail district around it is the strongest it has been in probably 70 years.

https://www.cnn.com/2025/01/10/business/macys-closes-66-stores-list/index.html

[Steely Dan]

^ Jesus.

LA, Philly, Brooklyn.

How many major city downtown Macy's are left?


Chicago still has the old Marshall Fields State Street Macy's.

Well, for now anyway.... the clock is already likely ticking.

[tjp]

Originally Posted by iheartthed

It's also interesting that the downtown Brooklyn location has struggled while the retail district around it is the strongest it has been in probably 70 years.

https://www.cnn.com/2025/01/10/business/macys-closes-66-stores-list/index.html

I believe Macy's owns the Brooklyn building so they'll make a lot more money selling it or leasing it so someone else. I was in there recently, and besides a few renovated sections, it's really depressing. I mean, most Macy's locations are pretty depressing at this point.

[bilbao58]

Originally Posted by AviationGuy

Here's the downtown Houston Macy's (the orangish building on the left). I feel very nostalgic about this, because when it was Foley's, my grandmother would take me there on Saturdays during the 60s, when downtown was jammed with thousands of pedestrians. It was a huge store, full of cool things, including a toy department like you wouldn't believe. That's where we went to have photos taken of us with Santa Claus. Foley's also had an outstanding formal restaurant where people dressed up to dine. I think it was called the Venetian Room or something like that. I don't know when Macy's took over.

Anyone else have nostalgic stories about this store?


(from Google Earth)

Twelve years later...

I lived within 2 1/2 miles of that store for 31 years of my adult life and I loved going there... especially when it was still Foley's. I hate that it was demolished and I hate what replaced it. I especially hate that the replacement completely turned its back on Main Street.

I vaguely remember going to some big store that had a Santa's Village or something when I was a kid in the Sixties. I'm guessing it must have been that Foley's.

Edited to add: About that building on the far left of the photo: I remember once riding with my mom when she went to pick up my dad from work when that was still the Humble Building. The "new" Humble Building would open soon after that.

[iheartthed]

Originally Posted by tjp

I believe Macy's owns the Brooklyn building so they'll make a lot more money selling it or leasing it so someone else. I was in there recently, and besides a few renovated sections, it's really depressing. I mean, most Macy's locations are pretty depressing at this point.

Macy's sold the downtown Brooklyn building last year, so it's not entirely unexpected that they are closing that location.

[Crawford]

The Queens location that's closing is just a Macy's Furniture Gallery. The regular Macys locations in Queens are staying open. I think there are two - a Queens Center location (has to be among the busiest in the chain, right on top of major subway station and extremely busy mall), and a downtown Flushing traditional stand-alone location (I'm actually surprised this isn't redeveloped into highrise condos, like many nearby blocks).

I'm kinda shocked the downtown BK location is closing. They did a big renovation during the pandemic, and it looks great. Might be the best-looking Macy's I've ever seen. And it always seemed busy when I was there. Who knows.

Fulton Mall (the main retail street in downtown BK) is kinda in a weird stage. There are huge residential towers rising up along the corridor, as well as a bunch of future assemblages. Retail rents are extremely high, and it's always busy. But it feels different than 20 years ago, when it was just packed with shoppers, mostly black West Indian women, coming up from Central Brooklyn. It was something of a legendary black shopping mecca, often referenced in songs and the like. Now the shoppers seem way more diverse, and the offerings are more upscale, but it lost something in the transition.

It might partially be demographic change. Fewer blacks in Brooklyn (though still huge West Indian population) and they live further away. The West Indian neighborhoods in Brooklyn are now the furthest from the Fulton Mall (way out, like East Flatbush, Brownsville, Canarsie). Doesn't make much sense when there's closer shopping (NYC was fortunate to not lose its neighborhood retail corridors).

[UrbanImpact]

Originally Posted by iheartthed

Macy's is on a cutting spree again. Here are the downtown/urban locations that the company just announced will be closing:

750 W 7th St. (Los Angeles)
414 K St. (Sacramento)
422 Fulton St. (Brooklyn)
88-01 Queens Blvd. (Queens)
1300 Market St. (Philadelphia)

The Macy's stores in downtown Brooklyn and Philadelphia's Market Street are located in historic buildings that are more than 100 years old. It's also interesting that the downtown Brooklyn location has struggled while the retail district around it is the strongest it has been in probably 70 years.

https://www.cnn.com/2025/01/10/business/macys-closes-66-stores-list/index.html

Oh no! I just witnessed the organ show two years ago in the Philadelphia location for the first time. That's super sad. Does anyone know what will come of it or if there are any plans for the building?

[Busy Bee]

Seriously depressing. It's no guarantee that if the legacy department store nameplates that Macy's replaced in these locations would have made it had they remained independent, but it couldn't be worse than this.

I've thought for years now the best thing Macy's could do to turn things around would be to restore these regional nameplates and some or all local autonomy. So many major metros had their best historic department store brands, with many many loyal customers and sentimentality attached, totally and recklessly squandered and erased when they went on their buying spree (see Marshall Field's) They've significantly contributed to the monotonous sameness retail era that certainly hasn't helped during the wallop the retail sector has endured in the e-commerce revolution. Macy's never should have pursued being a national brand and just been satisfied with their east coast sphere of influence. The same thing happened with the Bon-Ton.

[dave8721]

Originally Posted by Steely Dan

^ Jesus.

LA, Philly, Brooklyn.

How many major city downtown Macy's are left?


Chicago still has the old Marshall Fields State Street Macy's.

Well, for now anyway.... the clock is already likely ticking.

Its not "Downtown" but there is still an urban Macy's in South Beach (I think). It looks like its still open but you never know:
https://www.google.com/maps/@25.792147,-..._ep=EgoyMDI1MDEwOC4wIKXMDSoASAFQAw%3D%3D

Miami's old Downtown Macy's is now a Ross, which uses just a portion of the old building:
https://www.google.com/maps/@25.7741485,..._ep=EgoyMDI1MDEwOC4wIKXMDSoASAFQAw%3D%3D

[Steely Dan]

Originally Posted by Steely Dan

How many major city downtown Macy's are left?

Answering my own question, but here's what I could find from a quick gmaps search:

Boston
Providence
Manhattan
DC
Chicago
Salt Lake City
San Francisco


After today's announcement, I think they're all now in the danger zone, other than the original herald square store in Manhattan, of course.

[mhays]

Depressing, yes. Chalk up Seattle's Bon Marche as another store that merged in and then eventually closed its downtown location (2018 or so) after downsizing it a few years before. It was a big loss.

Local department store chains sold for a reason however. Independent small companies didn't have buying power for example, or efficient supply operations. Things were bad decades ago when they sold, and any remaining in 2019 might have been dead by 2022.

The only solution is to always shop at locally-based stores, even if it means paying extra or having less selection. I do this sometimes, but am guilty of shopping online on other occasions (ok for me that might count as shopping locally). The solution doesn't work when we only half try, or 90% of the public doesn't care...therefore it can only work on a very limited scale, i.e. with smaller stores on limited main streets.