Macy's to exit upscale Massachusetts mall as chain's store closures continue

Macy's bosses are forging up with store closures arsenic they look to reinvent the 166-year-old retailer.

The troubled section store concatenation announced successful February that it would shut 150 over the adjacent 3 years - including 55 by the extremity of 2024. 

It volition beryllium near with conscionable 350 stores - a acold outcry from the highest of astir 1,100 successful 2008. Since past it has been successful dependable decline. 

Macy's has yet to denote precisely which stores volition beryllium affected, but employees are speculating whether their determination could beryllium connected the chopping block.

The latest to look is at the Kingston Collection promenade successful Massachusetts, but volition enactment unfastened for locals to store determination done the holidays and adjacent successful aboriginal 2025.

Originally opened arsenic a Filene's successful 1989, it transitioned to Macy’s during a question of retail mergers successful the mid-2000s. 

For decades, the store has been a cornerstone of the mall, serving hundreds of thousands of shoppers and contributing to the mall's identity. 

Bosses said the closure ties successful with its strategy to instrumentality to profitable growth.

'As portion of our caller strategy to instrumentality Macy's to profitable maturation and heighten the lawsuit experience, Macy's has sold its Kingston Collection store successful Kingston, Massachusetts,' a spokesperson told The Patriot Ledger.

Locals expressed sadness astatine the news. 

'It's sad. I grew up present and I've shopped here,' 1 shopper told WBZ radio. 

Another said: 'I'm precise disappointed, I emotion it. I'm wearing these apparel from Macy's,

Like galore section stores, Macy's has been suffering from dwindling sales amid the stratospheric emergence of online rivals and the demise of America's suburban malls.

Earlier this year,  Tony Spring was named the caller CEO - and he  announced a large turnaround effort.

This includes closing much than a 3rd of stores - leaving conscionable 350 nationwide by 2026 - and focusing much connected its luxury offerings Bloomingdale's and Bluemercury.

It besides closed 5 further locations successful January, and laid disconnected implicit 2,000 workers. 

Macy's reached its highest fig of stores successful 2008, erstwhile it operated astir US 1,100 locations. 

This included a premix of full-line section stores, furnishings galleries, and different formats. 

Retail adept Neil Saunders said that immoderate locations person been 'left to rot' and person been showing signs of neglect.  

'The biggest things that person gone incorrect astatine Macy's are the prime of the stores and the merchandise assortment, Saunders, an expert astatine GlobalData Retail, told DailyMail.com earlier this year. 

'And truthful implicit the years customers person deserted it, income person tumbled and store productivity has gone down. All the metrics person gone successful the incorrect direction.'

It comes aft the institution scrapped talks successful July with 2 investors trying to bargain retired the chain. 

Macy's is 1 of galore retailers closing stores this twelvemonth arsenic the ongoing 'retail apocalypse' forces brick-and-mortar locations to grapple with rising theft and shrinking nett margins. 

There were almost 2,600 store closures successful the archetypal 4 months of 2024. If that inclination continues, astir 8,000 volition person been mislaid by the extremity of the year.

It emerged connected Tuesday that Walgreens volition shutter much than 1,200 stores in bid to crook astir struggling chain.

And past week, it merged that Big Lots is shutting 500 stores crossed aggregate states arsenic its financial woes worsen.  

Dollar stores person been deed hard too, with 99 Cents Only announcing successful April it would shutter each 371 of its locations across California, Texas, Arizona and Nevada. 

Family Dollar has said it volition unopen 1,000 stores under its ain banner and that of sister institution Dollar Tree implicit the adjacent 3 years. 

Badcock Home Furniture & More said astatine the extremity of July it is closing each its 380 stores dotted astir the South aft it fell into bankruptcy earlier this year.