Posted on 02/27/2024 8:45:57 AM PST by ChicagoConservative27
Macy’s announced Tuesday it will be closing 150 “underproductive locations” over the next three years as sales dip and the company looks to expand its higher-end luxury brands.
The department store chain saw nearly a 2 percent drop in sales during the fourth quarter of last year when compared to its fourth quarter of 2022. In 2023 as a whole, its net sales dropped 5.5 percent and its digital sales dropped 7 percent
Macy’s new CEO, Tony Spring, who stepped into the role this month, expressed optimism in a statement accompanying the sales report, which was released Tuesday alongside the announcement of the impending closures.
(Excerpt) Read more at thehill.com ...
I’ve never been a big Macy’s customer. Sure, I’ve probably picked up a pair of underwear or pajamas or a kitchen gadget here or there. But in the last 25 years, if I’ve spent an aggregate of even $300 in Macy’s, I’d probably be surprised. In terms of apparel, Macy’s always seemed like mostly JC Penney-quality stuff at 30% higher prices.
“one would have to be able to graphically overlay local democraphics with the store locations.”
...hmmm. Wonder what cities?
That’s about a THIRD of its locations!
It is the only department store remaining in Coeur d’Alene, ID. It is never very busy. I doubt it survives this cut. There was a J.C. Penney nearby, but it left a few years back. We are down to TJ Max, Costco, Walmart, and Target...plus Amazon, of course.
There’s another Macy’s 25 miles west on I-90 in Washington state and I expect that one to survive...for a while.
Jeez. Guess I’m really losing it. I thought Macy’s had gone out of business.
I agree, Macy’s is on the same road J.C.P. just finished.. bankrupt.
“underproductive locations”
Yeah, that’s a real LOLer.
Of course, brick & mortar retail continues to get hit by web shopping. Talk about being caught between a rock & a hard place — feral blacks getting reparations from your city and suburban stores and everybody else shopping on the web.
I stopped shopping there when they turned the Marshall Fields in Chicago to Macy’s.
OUTBACK STEAK HOUSE is closing 31 locations or more.
On an inflation-adjusted basis, sales were down more than 10%.
I believe Bezos employes tribes of ferals to shut down malls. Who wants to go to malls filled with violent thieving gangs? As a kid malls were great. The closest one was an 8 hour drive that we only saw when visiting family. They were fun. Now... I would rather stroll across the DMZ in to NOrth Korea.
“”I hope the one in my town isn’t one of them. I love that mall because it’s 2 minutes from me and it’s a great place to walk in bad weather. Our mall,a rather upscale one,is already about one third empty.””
I’m with you. I love Macys and one is close enough for me to drive to as I don’t drive “out of my comfort zone” but the mall itself is pretty empty. The two anchor stores were Macy’s and Sears - Sears left several years ago. JC Penney left before that. I was in Macy’s last July and it was nearly empty. You could have your pick of any parking spots in parking lots with space enough to accommodate patrons to a large sporting event.
“Demographics” as someone suggested would definitely have a lot to do with it. I won’t go over there alone.
I never went there that often to begin with, and then when they crapped on Trump, I boycotted them. The store here closed in April 2021.
"Peak Mall" occurred in the 1980s.
They could secure the parking garages and turn the retail units in the malls into luxury condos for seniors. A lot of them are "mall walkers" anyway.
“”I shopped there almost exclusively for office attire.””
I don’t know if you’re talking about “mens” or “ladies” attire but the ladies suits couldn’t be beat - great selections - loved Macy’s for that reason.
“I don’t know if you’re talking about “mens” or “ladies” attire but the ladies suits couldn’t be beat - great selections - loved Macy’s for that reason.”
Ladies attire. I haven’t shopped there in years, but still have several items of clothing purchased a decade ago. I’m now retired and need to box it up and either donate it or have a yard sale. But, so much of it in such good shape and I might need it at some time. LOL! (Yeah right! I live in jeans and t-shirts these days).
I stopped going to Macy’s when they started shoving globohomo in our faces.
In 1973 I went by a new shopping Center in North Tulsa on Peoria. 1973! It was completely open, all stores rented and the main store was Belscot!
I thought it was in a bad idea for a bad area.
In 1974 I went by it again and all stores were closed and abandoned except the liquor store.
Just pulled it up on Google Earth and now even the liquor store is abandoned. All fenced off now.
Abandoned fifty years ago. 5141 N Peoria Ave
Tulsa, Oklahoma West side of Peoria.
Mclain Village shopping mall.
I worked at Macy’s in Roosevelt Field during college.
I despise shopping malls as an adult. The crowds are downscale the stores increasingly useless one location bazaars and junk. About the only growth in mall locations I have seen are cell phone companies.
The trend I have made note of is unless your mall has an Apple Store you will eventually die on the vine. It is the only brick and mortar destination in modern American malls.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.