Macy's to close 3 more downtown stores (not ours).

Discussion in 'Center City' started by krapug1, Jan 3, 2013.

  1. Notcom

    Notcom Version 2.0

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    Going, going .....but not gone (yet)

    You might remember from math - IIRC infinite progression is the topic - if a ball rises half as high on each bounce, eventually it will come to rest: Milwaukee (still) refuses to come to rest - as it were - and join practically every other city in America:

    http://www.jsonline.com/story/money...f-its-size-space-converted-offices/767430001/

    I believe this is now one-half to the third power of the original store, so just a few more rounds and it will be a vending machine in some hallway :eek:
    To be fair to everyone else, the operation apparently receives some kind of subsidy, so while we know Chitown's little brother seemingly can't support a store unaided, at least it isn't the kind of place where "they can't operate even if you paid them to do it"...they can, and they do.
     
  2. Notcom

    Notcom Version 2.0

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    Flagging Flagships

    Guess the housewares didn't work out



    Those of you with good memories and little to do - and if you're reading this the latter is likely true :eek: - might recall when macy*s was in their game of musical chairs with the strawbridges and Wanamaker buildings, there was some lamenting that if only they had chosen the former, and Lord and Taylor had stayed in the latter, how great it would have been. We can now go further: if LT had stayed (at least until 2019 and stayed at roughly the same size) Philly 'coulda become the (defacto) flagship.
    http://nypost.com/2017/10/24/wework-is-buying-lord-taylors-fifth-avenue-flagship/
     
  3. krapug11

    krapug11 New Member

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    Yes my friends in Philly Speaks land, it's me, ready to dish more on the retail word of this week, DOWNSIZING.

    As already posted, the subsidized downtown Milwaukee Boston Store will be truncated to a 2 level store of 50,000. sq/ft, less
    than 1/2 of what it has now, and that was a major reduction from what the store was just 8,or so years ago.
    Just 1 year ago they reinstalled furniture and went all out at Christmas.
    http://www.jsonline.com/story/money/business/2016/11/17/boston-store-dressing-up-holidays/94028234/

    Lord and Taylor, 5th Avenue will be reduced to a 3 level store of 150,000/sq/ft, similar in size to their active space when they
    were in Wanamaker building and their open 2 level store here in Boston.
    Hudson's Bay to sell Lord & Taylor Fifth Avenue store

    Macy's in downtown Seattle will drop to 2 selling floors, after a major downsize of just a few years ago.
    Macy’s selling two more floors of downtown Seattle building

    Macy's State Street will loose the 8th floor, but the store will retain the Walnut Room, and will still be pretty immense.
    https://www.fool.com/investing/2017/10/21/macys-has-a-buyer-for-half-of-its-chicago-flagship.aspx

    Lastly, here in Downtown Crossing Boston, Macy's is re-installing a full line furniture department, they reopened a staffed customer service area, and expanded the staffed visitors centers here is some good news in retail land.
     
  4. Notcom

    Notcom Version 2.0

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    And so modest !!

    We won't speculate on why Boston seems to be doing so well ;)

    (And FTR, I believe the Seattle store will actually be three floors, not two - although a number of news reports have claimed the latter; w/ the opening of the Metro Tunnel a number of years ago, the basement is now practically equal to street level...all kinds of people use it to enter macy*s and pass on thru on their way up to other stores).
     
  5. MarketStEl

    MarketStEl Will Work for Food, But Prefers Cash

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    The deal with Hudson's Bay Co. is a little more involved than just the sale of L&T's Fifth Avenue flagship.

    As the news release linked from that report states, the joint venture formed by WeWork and Rhône Capital will pour an additional $500 million into L&T's parent on top of the $850 million they're paying for the New York store. HBC in turn will allow WeWork to lease space in some of its 480 stores in North America and Europe, beginning with the upper floors of their Bay stores in downtown Toronto and Vancouver and Galleria Kaufhof in Frankfurt.

    Seems the entire chain needs to shed some space in its stores.
     
  6. Notcom

    Notcom Version 2.0

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    The time is now (well sort of)

    This one - Canada, not the U.S....yet - seemed to slip by us.

    Sears Canada seeks court approval to liquidate all stores, 12,000 to lose jobs
     
  7. londoner

    londoner Well-Known Member

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    Thank God there's more Macy's closings, otherwise Philly Speaks would have no reason to exist.
     
    Burholme06, Scoats and vamprye927 like this.

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