Macy's closing another 40 stores in 2016

[ynkeesfn82]

Macy's will be closing another 40 stores in 2016.

http://www.westernmassnews.com/story/29985453/macys-to-close-up-to-40-stores

[store215]

I'm really surprised the number isn't higher. I can't remember ever purchasing anything from Macy's in my life...it's just an old tired brand that makes me think of little old ladies shopping like they would in the 1960's or 1970's. They don't really offer anything that is unique or at a good value, IMO. If I want cheap clothes, I can go to Kohl's...if I want expensive stuff, I can go to Nordstrom or such...there is just no room for Macy's anymore especially as malls continue to decline.

[ynkeesfn82]

I'm really surprised the number isn't higher. I can't remember ever purchasing anything from Macy's in my life...it's just an old tired brand that makes me think of little old ladies shopping like they would in the 1960's or 1970's. They don't really offer anything that is unique or at a good value, IMO. If I want cheap clothes, I can go to Kohl's...if I want expensive stuff, I can go to Nordstrom or such...there is just no room for Macy's anymore especially as malls continue to decline.

When I was growing up as a family we would hit the Danbury Fair Mall in Danbury, CT every couple years. My Mom would buy something. Ever sice they merged with Filene's and ended up with a location at a much closer mall my Mom hasn't been there. She doesn't shop there. She never rarely shopped at Filene's. She was however a G. FOX customer (the Hartford based chain that got taken over by Filene's in '93ish). I only bought one thing at Filene's in my adult life and that was an iron for a present for my Mom. I've never bought anything at Macy's either.

I just hope the Macy's Westfield Meriden Square in Meriden, CT doesn't end up closing. They cheated death with Boscov's taking over the former JCP. Boscov's opens in October.

[TheFugitive]

I just hope the Macy's Westfield Meriden Square in Meriden, CT doesn't end up closing. They cheated death with Boscov's taking over the former JCP. Boscov's opens in October.

Boscov's only lasted a couple of years at South Hills Village in Pittsburgh.
That space is now divided between Dick's Sporting Goods and Target.

[Hudsons81]

Macy's will be closing another 40 stores in 2016.

http://www.westernmassnews.com/story/29985453/macys-to-close-up-to-40-stores

I'd bet good that the one at Eastland Center in Harper Woods, MI is one of those. That mall is in a decline similar to the one Northland Center faced. They already lost Sears in the 2012 closures...

[TheFugitive]

This may finally be the death knell for Century III Mall.   

They lost Sears last November.  Losing Macy's would leave them with just JCP
as an anchor.  The place is looking very run-down and I suspect that would have to
be one of Macy's 40 most under-performing stores.

[JimSawhill]

I wonder if the University Mall in Tampa will be one of the 40 stores closing. I guess one of the two Macy's at Buckland (Manchester, CT) will close...

[mixedday]

I don't know why they are so secretive with the list of closing stores, and why it won't be published until January most likely. It just makes the chain seem so corporate driven. If they don't know, but just want to close the 40 most underperforming stores, it still makes the corporate office seem out of touch with the actual stores and markets each service, and that they are solely deciding based off spreadsheets.

Macy's might try to spin it that it's not to ruin employee's Christmas or holidays as if it's for an altruistic purpose. If I was working at a store to be closed, I'd rather know early than later, to make plans especially if it might affect my future budget towards housing and costs. e.g. Lease might be up in January, I'd rather know maybe my job might be cut.

I realize that Macy's will need as much help around the holidays, but I believe there will be people looking for extra money willing to work temporarily anyways.

[jason83080]

If the one at Midway in Elyria, OH, survives this round of closings, I'll think that they just don't care about how it's actually doing and are just leaving it there to occupy space. Dillard's closed YEARS ago and is sitting there empty. Steve & Barry's was bought up by Dunham's and they moved in from across the street. Sears is still - barely - hanging on. I imagine Penney's isn't doing much better, since there's a nice 1-floor store in Avon and a huge store in North Olmsted.

[buzz86us]

weird that the Macy's in Colonie and Albany that are within 10 minutes drive of each other are still hanging on..

[standa]

Here is the Macy's closing list.

http://bizbeatblog.dallasnews.com/2016/01/new-year-in-retail-often-brings-store-closings-macys-to-announce-soon.html/

[standa]

I noticed Enfield, CT, Lanesborough, MA, and Springfield, MA in my part of the country.

[Hudsons81]

I am somewhat surprised that the one at Eastland in Harper Woods, MI isn't on there. That place has been heading in the same direction Northland went ever since Sears shut down in 2012.

[TheFugitive]

Macy's at Century III Mall in West Mifflin, PA is closing.

Surely a death knell for this mall.  It lost Sears last year and Pennys is the
only remaining national anchor.

I worked here briefly when it was Kaufmanns.

[mixedday]

I'm glad that the Macy's at Voorhees Town Center was spared. PREIT sold the mall last year on news that one of the two anchors was closing. So, it wasn't Macy's. (Boscov's? I doubt that.)

Bad news for PREIT though that Macy's will close in Valley Mall in Hagerstown, MD. That mall is also anchored by The Bon-Ton, JCPenney and Sears as well, and there is Prime Outlets Hagerstown that competes locally. Likely the outlets selling designer name apparel competes most with the products sold at Macy's.

Assuming the anchor site itself isn't disadvantaged relative to the other anchors (which it doesn't seem so), I wonder if Boscov's would consider to open there.  Boscov's operates in Frederick, MD and in Lebanon and Lancaster, PA and can likely adapt better in this market.

I also wonder if Boscov's will consider stores in Virginia given the number of stores that Macy's is closing in the Richmond and Norfolk markets. This would create overlap between Boscov's and Dillard's if so. Boscov's used to operate one Virginia store in Danville Mall but closed this store when it went bankrupt and hasn't returned to Virginia since.

The Middlesex, NJ Macy's also might be of interest to Boscov's, but it's a relatively small store and more of a big box format than mall anchor site, but it could serve as complementary to the Woodbridge Center mall site.

[mixedday]

Macy's at Century III Mall in West Mifflin, PA is closing.

Surely a death knell for this mall.  It lost Sears last year and Pennys is the
only remaining national anchor.

I worked here briefly when it was Kaufmanns.

I will definitely check this soon to be dead mall site out when I visit Pittsburgh this year.

Isn't there also Dick's Sporting Goods there?

I see that it's currently owned and operated by Las Vegas-based Moonbeam Capital Investments LLC, which owns the Burlington Center in NJ. It bought that mall and had these grand plans for redevelopment there. Nothing happened in 2015. Sears remains the only anchor in that mall, and I can't imagine Sears keeping that store open.

I'll like to check out the West Mifflin mall site. It would be an Owings Mills Mall like situation with only JCPenney left, and the mall closes to the public, although Dick's is listed at Century III still.

[ynkeesfn82]

I noticed Enfield, CT, Lanesborough, MA, and Springfield, MA in my part of the country.

Maybe Boscov's will open a 2nd Connecticut location in Enfield.  :)

[Pikapower]

I am not surprised about Macy's closing at Eastern Hills since that mall is virtually dead with a "revolving door" for stores and since Dave & Buster's moved to the more thriving Walden Galleria Mall, I would not be surprised if Sears JCPenney, and Bon-Ton closed at EHM!

[TheFugitive]

Macy's at Century III Mall in West Mifflin, PA is closing.

Surely a death knell for this mall.  It lost Sears last year and Pennys is the
only remaining national anchor.

I worked here briefly when it was Kaufmanns.

I will definitely check this soon to be dead mall site out when I visit Pittsburgh this year.

Isn't there also Dick's Sporting Goods there?

I see that it's currently owned and operated by Las Vegas-based Moonbeam Capital Investments LLC, which owns the Burlington Center in NJ. It bought that mall and had these grand plans for redevelopment there. Nothing happened in 2015. Sears remains the only anchor in that mall, and I can't imagine Sears keeping that store open.

I'll like to check out the West Mifflin mall site. It would be an Owings Mills Mall like situation with only JCPenney left, and the mall closes to the public, although Dick's is listed at Century III still.

I would hurry if I were you.  Century III may not make it a year.

Yes, Dick's is still there in the former Marshall's space.  That was originally part of a theater when the
mall first opened in 1980.  At this point the entire upper end has been sealed-off as the two-story former
Sears and Lazarus (later Kaufmann's furniture) are vacant.  Nothing exists in this mall from the Food Court north, and now the loss of Macy's is going to leave a huge gaping hole right in the center.

There just are not enough chains around any longer to fill all that space.
One of my fondest memories of this mall was Christmas Shopping after a blizzard.
Most of the streets were closed, but I lived close enough that we were able to get there.
Had the place pretty much to ourselves.  Most relaxing shopping I've ever done and the
service at The Ground Round was most excellent.

[mixedday]

Moonbeam has kept Burlington Center Mall open even though only one anchor operates there. JCPenney closed in May 2014, so Sears operated solo from then to now, which is over 18 months.

It might keep Century III open to the public similarly, although it is a larger site, with likely higher maintenance costs.

The owner of Granite Run Mall closed the mall to the public relatively quickly (when JCPenney left) while two anchors still operate there, and the enclosed portion of Owings Mills Mall (a larger mall) closed shortly after Macy's closed.

I wonder when a mall operator can no longer break even to keep the common area of a dead mall open. At what point, does it become more financially practical to close the mall.

There also has been no movement of small tenants within the Burlington Center Mall. They are all scattered around the mall. The redevelopment plan that Moonbeam has listed on it's site still displays JCPenney as if it will be stay with redevelopment, so I'm not sure how likely the $230 million makeover is possible. A lot of retail is accessible off I-295 just a 7 mile drive down in Mt. Laurel.

Ironically enough, JCPenney needs a Burlington County NJ presence, but the mall in it's current shape (with Moonbeam not tearing out dead space and marketing the existing functioning retailers) is not presentable for JCPenney to return there. I have better hopes that JCPenney  returns to Granite Run Mall as a freestanding Route 1 facing building between Boscov's and Sears.

I don't know how much stock to put into this article, but it mentions that JCPenney had a good last season relative to Macy's:
http://www.thestreet.com/story/13415720/1/j-c-penney-ripped-macy-s-to-shreds-this-holiday-season.html?puc=yahoo&cm_ven=YAHOO

Maybe it will be incentive to keep some stores like Owings Mills and maybe Century III open, as it rebounds.

[Hudsons81]

Perhaps when JCPenney does finally pull the plug on their Century III store, Meijer should just buy the property and open their first Pennsylvania store.

[mixedday]

Perhaps when JCPenney does finally pull the plug on their Century III store, Meijer should just buy the property and open their first Pennsylvania store.

Re: grocery stores as redevelopment opportunities, I wonder if Wegmans will consider the Pittsburgh market and maybe this site. It has stores 2.5 to 4 hours away in different directions, in the adjacent Erie market, and Central PA (second one opening soon), and Frederick MD.

I don't know about West Mifflin's demographics or the local mall site however for it to be a good starting point for Pittsburgh.

However, there is a Wegmans effect to malls: Wegmans really rejuvenated Hunt Valley Mall into Hunt Valley Town Center north of Baltimore, and it seems to be a positive addition in Montgomery Mall in North Wales, PA more recently. It could probably co-exist well with a JCPenney, Dicks, and redevelopment would spur new retail growth.

[MikeRa]

The Macy's (Former Strawbridge & Clothier) at Suburban Square, Ardmore, PA is also closing.  This location opened in 1930 as S&C's 1st branch location.

[Ameskid]

Oh no, the Owings Mills Mall location is closing its doors as well. What could this mean for the mall's future?  ::)

[FitchMike26]

Ardmore PA was actually announced months ago. I'm not sure why people are so surprised now.
Also, I'm pretty sure I read that Owings Mills in MD actually closed last year.