Macy's Closing More Stores? (Later in 2022 or in 2023?)

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Macy's Closing More Stores? (Later in 2022 or in 2023?)

Post by TheBigSmall »

So apparently Macy's still plans to close more stores after the recent announcement of 8 closures. Here is the article:

https://www.forbes.com/sites/walterloeb ... a8e7f858ce

Here is a list of the vulernable stores according to MacysInc. Layoffs (Subject to Change):

https://www.thelayoff.com/post/@dfo+1eH7MlDp

1 Parkchester
2 Fox Run (NH)
3 Trumbull
4 Brunswick Square
5 Hampton Bays
6 Independence (MA)
7 Burnsville Center
8 Empire (SD)
9 Crossroads Center (Mn)
10 Southridge
11 Genesee Valley Center
12 Fashion Square (MI)
13 Grand Traverse
14 Anderson Town Center
15 Galleria At Pittsburgh Mills
16 Logan Valley
17 Wyoming Valley
18 Cherryvale
19 Louis Joliet
20 Bay Fair
21 Fort Collins Foothills Fashion
22 Northfield Stapleton
23 Capitola
24 Silverdale Kitsap (WA)
25 Bend River (OR)
26 West Valley Mall
27 Tanasbourne Streets (OR)
28 Coeur D'Alene Silver Lake (ID)
29 Sunrise (CA)
30 Puyallup South Hill (WA)
31 Metro North
32 Battlefield (MO)
33 South County (MO)
34 Lakeforest (MD)
35 Exton Square
36 Security Square
37 Concord
38 Kahala (Oahu)
39 Windward (Oahu)
40 Simi Valley Town Center
41 Eagle Rock Plaza
42 Otay Ranch Town Center
43 Irving (TX)
44 Acadiana
45 La Palmera
46 Gwinnett Place
47 Oglethorpe
48 Southland (FL)
49 Columbia (SC)
50 Orlando Fashion Square
51 Tallahassee Governors Sq
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Re: Macy's Closing More Stores? (Later in 2022 or in 2023?)

Post by storewanderer »

Is that the current list of "neighborhood stores?"
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Re: Macy's Closing More Stores? (Later in 2022 or in 2023?)

Post by TheBigSmall »

@storewanderer
Correct. These are the remaining 51 "neighborhood stores" of the 125. 74 have already been closed or currently in the process of closing.
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Re: Macy's Closing More Stores? (Later in 2022 or in 2023?)

Post by Super S »

If this is a true closing list, I have to wonder why it's taking so long to close them. Is it due to the timing of expiring leases? Or has Macy's tried to make changes in a last ditch effort to keep some of these stores viable? I also have to wonder if this list has hurt sales at any of those stores.
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Re: Macy's Closing More Stores? (Later in 2022 or in 2023?)

Post by TheBigSmall »

I personally believe these stores are being revaluated. I believe that some of these stores could come off the list if there performance is improving. And stores could be added to this list if there performance drops off.

I think the following stores could potentially be added soon if things continue to decline at these sites:

Livingston Mall, Livingston, NJ (Close to Short Hills, Sears closed Feb 2020, Lord and Taylor closed Dec. 2020)

Hamilton Mall, Mays Landing, NJ(Dying Mall, Sears closed 2018, JCPenney closed 2019)

Monmouth Mall, Eatontown, NJ (Dying Mall, Close to Freehold Raceway)

Boulevard Mall, Amherst, NY (Dying Mall, Close to Walden Galleria)

Marley Station, Glen Burnie, MD (Dying Mall)
Last edited by TheBigSmall on January 12th, 2022, 12:15 pm, edited 2 times in total.
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Re: Macy's Closing More Stores? (Later in 2022 or in 2023?)

Post by architect »

Storewanderer is correct, this is the list of remaining neighborhood stores. However, there are a few versions of this circulating around online with some minor differences, the most common being that Marley Station appears on some. Supposedly, the reason that the bulk of these closing have been delayed from early 2022 is that Macy’s has seen a substantial drop in sales when a store closes in a small market or submarket and leaves the area without another store for in-person shopping along with pickups and returns. Their goal is to continue the rollout of standalone Backstage locations along with Market by Macy’s locations in order to allow further streamlining of their large-format store fleet. Even beyond this list of neighborhood stores, it would not surprise me to see additional closures over the next few years. A few that I see as vulnerable are:

- Shoos at Willow Bend, Plano, TX - Mall is noticeably emptying out and I anticipate will be redeveloped in the next 5 years or so.

- Lakeline Mall, Austin, TX - Attached to a solidly middle-tier 90’s mall which does not have the visitor traffic of either the Domain or Barton Creek Square stores, and is located close enough to the Domain location for it to cannibalise Lakeline. Additionally, considering the value of land in the Austin area these days, it is likely that the mall property is more valuable for housing or some other use over a large mall at this point.

- Ingram Park Mall, San Antonio, TX - A similar situation to Lakeline

- Almeda Mall, Houston, TX - A smaller store in an economically stagnant area which has likely remained open only on account of the store’s interior being completely rebuilt in 2009 following Hurricane Ike. The store is located just a few miles from the far more trafficked Baybrook Mall store, which is also in a much more successful area economically.
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Re: Macy's Closing More Stores? (Later in 2022 or in 2023?)

Post by submariner »

TheBigSmall wrote: January 12th, 2022, 6:52 am @storewanderer
Correct. These are the remaining 51 "neighborhood stores" of the 125. 74 have already been closed or currently in the process of closing.
Is Silverdale considered a neighborhood store? That's attached to Kitsap Mall, co-anchored with JCP and Kohl's (after Sears' recent departure and Gottschalk's left back in 06 or so)
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Re: Macy's Closing More Stores? (Later in 2022 or in 2023?)

Post by pseudo3d »

architect wrote: January 12th, 2022, 11:22 am Storewanderer is correct, this is the list of remaining neighborhood stores. However, there are a few versions of this circulating around online with some minor differences, the most common being that Marley Station appears on some. Supposedly, the reason that the bulk of these closing have been delayed from early 2022 is that Macy’s has seen a substantial drop in sales when a store closes in a small market or submarket and leaves the area without another store for in-person shopping along with pickups and returns. Their goal is to continue the rollout of standalone Backstage locations along with Market by Macy’s locations in order to allow further streamlining of their large-format store fleet. Even beyond this list of neighborhood stores, it would not surprise me to see additional closures over the next few years. A few that I see as vulnerable are:

- Shoos at Willow Bend, Plano, TX - Mall is noticeably emptying out and I anticipate will be redeveloped in the next 5 years or so.

- Lakeline Mall, Austin, TX - Attached to a solidly middle-tier 90’s mall which does not have the visitor traffic of either the Domain or Barton Creek Square stores, and is located close enough to the Domain location for it to cannibalise Lakeline. Additionally, considering the value of land in the Austin area these days, it is likely that the mall property is more valuable for housing or some other use over a large mall at this point.

- Ingram Park Mall, San Antonio, TX - A similar situation to Lakeline

- Almeda Mall, Houston, TX - A smaller store in an economically stagnant area which has likely remained open only on account of the store’s interior being completely rebuilt in 2009 following Hurricane Ike. The store is located just a few miles from the far more trafficked Baybrook Mall store, which is also in a much more successful area economically.
Shops at Willow Bend struggled from day one, I don't think it reached past 85% occupancy even in the best of times. Plus the overmalling of the Dallas area meant that a lot of malls have failed one after the other.

Almeda Mall is a bit of a weird situation considering the circumstances it was in. Its "twin", Northwest Mall, lost its Macy's after Hurricane Ike (before Macy's started cracking down on store closures) instead of being rebuilt like Almeda's. Plus, the Baybrook Mall is about halfway between Almeda and Mall of the Mainland (also near, but not on, Interstate 45) and despite having a lot of anchor crossover in the mid 1990s to mid 2000s (Dillard's, Foley's, Sears), MotM went in for the kill by bagging its JCPenney in 2005. Everything else just kind of rotted out after that (though MotM's Sears stuck around after Baybrook's perished, at least for a few years after that).

Almeda Mall seems to be holding its own despite the fact that it lost Palais Royal (as did everyone) and the retail behind the mall is bombed-out with non-retail uses and seedy stores like "24/7 Video and Lingerie", and probably lives on the edge by sapping what was left of Pasadena Town Square (now MacroPlaza Mall), as that mall closed down its Macy's several years ago and from what I've heard will be sealing off the former Sears wing (the Sears sign was reused for a new Sears Hometown, but it's inaccessible from the mall).

I don't think I've been to Lakeline Mall, but it looks like it had a slow start--until the mid-2000s, it had no freeway access and the surrounding retail has been a bit slow to occur (adjacent to the mall, a new H-E-B Plus was built, which is wildly popular), but besides The Domain (which helped do in whatever was left of Highland Mall), it's the only mall in the northern suburbs while Barton Creek serves the south.

Most of the Macy's closures in the last few years have been malls that were already doing poorly as of late and/or malls in smaller markets.
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Re: Macy's Closing More Stores? (Later in 2022 or in 2023?)

Post by Romr123 »

Yeah, that final "1 to zero" in the smaller markets has got to be tough for Macy's to negotiate...that's the situation in the outstate Michigan malls---Saginaw/Traverse City/Flint are down to that single store in the single barely viable mall in the town/region. Grand Rapids still has two stores, the newer of them/newer mall covers the area to the south and west (Holland/Saugatuck) and the older of them covers "old money" Grand Rapids and areas to the north.
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Re: Macy's Closing More Stores? (Later in 2022 or in 2023?)

Post by arizonaguy »

Romr123 wrote: January 13th, 2022, 12:14 pm Yeah, that final "1 to zero" in the smaller markets has got to be tough for Macy's to negotiate...that's the situation in the outstate Michigan malls---Saginaw/Traverse City/Flint are down to that single store in the single barely viable mall in the town/region. Grand Rapids still has two stores, the newer of them/newer mall covers the area to the south and west (Holland/Saugatuck) and the older of them covers "old money" Grand Rapids and areas to the north.
The Kansas City metro is down to 3 stores yet 1 of the remaining (Metro North) is on the "neighborhood stores" list. If that closes that 2 remaining stores are in one corner of the metro and only 6.4 miles (11 minutes) from one another.
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