Macy’s is closing 45 of its stores this year, including its Water Tower store on Chicago’s Magnificent Mile, as part of a previously announced initiative.
Contacted by HomeWorld Business, Macy’s emailed a statement reading:
“As previously announced, Macy’s, Inc. is committed to right-sizing our store fleet by concentrating our existing retail locations in desirable and well-trafficked A and B malls. To that end, we announced several store closures this week that align to the guidance we provided in February 2020. These closures bring us closer to achieving the right mix of mall-based stores with our digital footprint.”
CNBC, which first publicly identified the store closures, noted that Macy’s converted two of its locations, one in Delaware and one in Colorado, from retail stores to fulfillment center facilities.
Macy’s already had been changing its mix in Chicago, having given up the historic Medinah Temple building and its Bloomingdale’s home store within. A version of the home operation will locate in a nearby Bloomingdale’s department store, The Chicago Tribune reported.
Macy’s said of the Magnificent Mile flagship:
After careful consideration, Macy’s has decided to close our Water Tower Place location. The decision to close a store is always a difficult one, and Macy’s Water Tower Place has been honored to serve its customers on the Magnificent Mile for 45 years. Macy’s previously shared this information with our valued colleagues. Regular, non-seasonal colleagues who we are unable to place at a nearby Macy’s store will be eligible for severance, including outplacement resources. A clearance sale will begin in January 2021 and run for approximately eight to 12 weeks. Macy’s is committed to the greater Chicago community. We will continue to serve our customers at Macy’s on State Street as well as in a number of suburban locations such as Old Orchard, Oakbrook, Woodfield, Orland Park and Hawthorn Court or online at macys.com and the Macy’s app.