Landmark/Van Dorn

Macy’s Closing Stores in 2016 – Will Landmark Mall Location Survive?

macys+generic

Macy’s announced Tuesday that the department store chain will close 35 to 40 under-performing stores, or around 5% of its total locations. The closures will happen in early 2016 as the company works to optimize its omnichannel approach to customers across America.

Given the long-delayed transformation of Landmark Mall, will Macy’s Landmark Mall location in Alexandria, Virginia be on the list?

“Physical stores remain absolutely vital to our omnichannel strategy, which provides local touchpoints and tailored merchandise assortments for shoppers in nearly every major market,” said Terry J. Lundgren, Macy’s, Inc. chairman and chief executive officer. “As new shopping centers are opened, however, many customers change their shopping habits and often the sales volume of a store gets divided among the new and nearby, existing centers. Each year, we prune some stores that are our weakest performers so that we can concentrate our resources on the best locations and maintain a strong physical presence. At the same time, we open a small number of new stores to fill gaps in our market coverage or where we have outstanding real estate opportunities.

“Macy’s is already one of the largest and fastest-growing digital platforms in the country. Our fast-growing digital offering, including robust apps and mobile-enhanced websites, integrate with our stores to provide an unparalleled omnichannel shopping experience for customers wherever, whenever and however they prefer to shop. As a result, we are able to attract new customers and grow sales profitably,” Lundgren said.

“Macy’s stores today are places to shop, relax and be entertained – much like they have for generations. Moreover, all Macy’s stores today can fulfill merchandise orders direct to consumers’ homes, serve as convenient locations for customer pick up of merchandise bought online, and are the origination point for same-day delivery in 17 local markets,” Lundgren added. “While making the decision to close stores is difficult, we know it is necessary for us to remain competitive as customer shopping patterns continue to change.”

The locations of the 35 to 40 stores to be closed in early 2016 will be announced at a later date, once the company completes a careful analysis now under way and makes final decisions. Together, the stores’ annual sales volume, net of sales expected to be retained in nearby stores and online, is expected to be roughly $300 million.

Macy’s, Inc. today operates 770 Macy’s stores. Over the past five years (2010 through 2015 to date), 52 Macy’s stores have been closed and 12 new Macy’s stores have been opened. In addition, six new Macy’s Backstage offprice locations are opening in fall 2015.

Lee Hernly, Editor
the authorLee Hernly, Editor
Founder & Editor
Lee Hernly is the Founder and Editor of Port City Wire, Alexandria, Virginia's best source for hyper-local news, opinion, and events. I live in the Old Town Alexandria area with my fantastic wife and son Sam. Oh, there’s Serena & Bea too. I’m so excited to meet new readers and see where you are from! Please be sure to leave a comment with a link to your blog so I can check it out!

3
Leave a Reply

avatar
2 Comment threads
1 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
2 Comment authors
Macy's Announces Layoffs, Store Closings - Landmark Mall SparedRedBrickTown.comKmlate Recent comment authors

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
newest oldest most voted
Notify of
Kmlate
Guest
Kmlate

Macy’s is partial owner of the mall, so I’d expect them to stay in some capacity.

PortCityWire.com
Member

So Macy’s could never sell its stake in the mall? Especially with so many Macy’s stores near it?

trackback

[…] we told you in September, Macy’s announced that the department store chain will close 35 to 40 under-performing stores in […]