Macy's announces new round of closings

marshd1000
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Re: Macy's announces new round of closings

Post by marshd1000 » July 14th, 2018, 11:12 am

Three Rivers needs to become a power center. I know that there are places where JCPenney is not in a mall. If they are doing well enough, they can be the only traditional department for Longview Kelso. But it seems like that site could be a great home to a Costco!

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Re: Macy's announces new round of closings

Post by SamSpade » January 24th, 2019, 12:34 am

2019 closures as part of Macy's previously announced list, some noted elsewhere around here
Casper, WY
Redmond, WA
Seattle, Wa (Northgate - est 2020)
Cincinnati, OH -
https://www.bizjournals.com/cincinnati/ ... store.html
Apparently large amounts of housing and offices were supposed to materialize around the time this store was leased and opened, but that's not happened so even in their HQ city, no more downtown store.

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Re: Macy's announces new round of closings

Post by Super S » January 24th, 2019, 9:51 am

marshd1000 wrote:
July 14th, 2018, 11:12 am
Three Rivers needs to become a power center. I know that there are places where JCPenney is not in a mall. If they are doing well enough, they can be the only traditional department for Longview Kelso. But it seems like that site could be a great home to a Costco!
The Costco rumor has been floating around the area for years. Supposedly they were part of the proposed development near Exit 36 before the project fizzled out because of a lengthy permit process. Costco at one point was also interested in locating on a nearby site where a new Tractor Supply store and a Toyota dealership now sits, and was rumored to be looking at land across the bridge in Rainier, Oregon at one point.

They say the JCPenney has been a strong performer, but the mens department has had a lot of poor selection and empty space for years. I gave up on this location long ago for that reason.

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Re: Macy's announces new round of closings

Post by Alpha8472 » January 24th, 2019, 10:29 pm

The Sunnyvale, California Macy's is closing. The land is very valuable and millions can be made on condos and mixed use developments. Money is made via real estate not retail sales. The Silicon Valley is running low on land, and that location is in a prime area.

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Re: Macy's announces new round of closings

Post by storewanderer » January 26th, 2019, 12:14 am

Alpha8472 wrote:
January 24th, 2019, 10:29 pm
The Sunnyvale, California Macy's is closing. The land is very valuable and millions can be made on condos and mixed use developments. Money is made via real estate not retail sales. The Silicon Valley is running low on land, and that location is in a prime area.
Kind of reminds me of the logic used in 2003 or whenever when Kmart sold a few stores in the bay area to Kohl's for many millions of dollars...

You can't make money off of real estate sales forever. Macy's is trimming its branches but the question is when will all the branches be cut off and you start chopping down into the roots?

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Re: Macy's announces new round of closings

Post by jamcool » January 26th, 2019, 8:40 am

It looks like Macy’s wants to get out of the small towns, which could be an opportunity for Dillard’s, whose small town stores are its cash cow.

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Re: Macy's announces new round of closings

Post by timanny » February 10th, 2019, 4:08 pm

Macy's never went into small towns on their own. Either they were inherited from buyouts of other chains like May Company and Carter Hawley Hale, or were lured in some other way, like the Tracy, CA store, which is a one-story former Gottschalks that the city paid Macy's with a surplus to move into. The store doesn't have a great selection, and the rest of the mall is dead except for Target, Cinemark, and a small JCPenney which is somehow a cash cow. The lease agreement ends in 2020, and I expect Macy's to pull out at that point. However, Tracy is at about 100,000 people now, so if they do, I imagine at some point in the future a more upscale shopping center will be built that will contain a more fleshed out Macy's that is comparable with the Modesto store.

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Re: Macy's announces new round of closings

Post by Super S » February 10th, 2019, 8:04 pm

timanny wrote:
February 10th, 2019, 4:08 pm
Macy's never went into small towns on their own. Either they were inherited from buyouts of other chains like May Company and Carter Hawley Hale, or were lured in some other way, like the Tracy, CA store, which is a one-story former Gottschalks that the city paid Macy's with a surplus to move into. The store doesn't have a great selection, and the rest of the mall is dead except for Target, Cinemark, and a small JCPenney which is somehow a cash cow. The lease agreement ends in 2020, and I expect Macy's to pull out at that point. However, Tracy is at about 100,000 people now, so if they do, I imagine at some point in the future a more upscale shopping center will be built that will contain a more fleshed out Macy's that is comparable with the Modesto store.
Macy's has a lot of inherited stores, period. Both large cities and small towns. I can't really think of any store Macy's built as a replacement with the exception of Nampa, Idaho (which ended up closing) Meanwhile, they have a lot of older, aging locations around the Pacific Northwest which date to the 1950s that are in dire need of some updates, but almost give off a vibe that they are just riding out the end of a lease.

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Re: Macy's announces new round of closings

Post by Brian Lutz » April 4th, 2019, 7:00 am

Macy's has decided to close the Northgate store this year instead of next year, starting liquidation next month:

https://komonews.com/news/local/macys-t ... year-early

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Re: Macy's announces new round of closings

Post by Super S » April 5th, 2019, 7:01 am

Brian Lutz wrote:
April 4th, 2019, 7:00 am
Macy's has decided to close the Northgate store this year instead of next year, starting liquidation next month:

https://komonews.com/news/local/macys-t ... year-early
I wouldn't be surprised to see a few more closures and/or shrinking of store size. Especially in malls affected by closures of Sears or other anchors. I also wouldn't be surprised to see some remodels take place if Macy's is at all serious about staying in business. I have said before that some of the stores are looking very tired.

A few of those locations such as Southcenter and Tacoma Mall really need exterior updates as well to appeal more to those that do not go inside the mall.

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