Which Macy's stores will close in Metro Atlanta area? (Columbus: sales, real estate)

[David1502]

Macy's, Inc. has announced they will close 150 of their namesake stores while they will open 15 Bloomingdale's stores. Here's a link to the CNBC article: https://www.cnbc.com/2024/02/27/macy...uemercury.html

It's pretty much guaranteed that several Metro Atlanta area Macy's stores will be part of the 150 to close, given the fact that there are eleven full line Macy's stores, plus three of their smaller size Market by Macy's stores. Macy's stores located in metros where they are the sole store (or one of two) are more likely to remain open, so an area like Metro Atlanta is more likely to see closures, as customers can drive to other nearby stores.

The Gwinnett Place Mall store is the most obvious first on the "chopping block", after that the following are in the reasonably possible to close:

1. Arbor Place in Douglasville
2.Northlake Mall (too close to Perimeter and Lenox Square)
3. Southlake Mall - It could be replaced by a smaller Market by Macy's store in Peachtree City.
4. Stonecrest Mall - There is a smaller Market Place by Macy's store in Snellville

The article also says that Macy's will invest in the remaining 350 stores, so, some area stores could see upgrades - Perimeter could see improvement to become more like the Lenox Square flagship store and have an expanded "The Men's Store" like Lenox has with expanded selection of better brands. The North Point Mall store may also see improvement.

The next question is "Will Macy's Inc. attempt to open a second Bloomingdale's in the area?"

Considering the fact that there was a Bloomingdale's store at Perimeter Mall from 2003 to 2012 which Von Maur took over the building, it seems highly unlikely they will try their luck again at that mall. The next obvious target would be the Alpharetta area. North Point Mall has lost a lot of its higher end stores (and prestige) to Avalon, so it is not as attractive as it was ten years ago. If Bloomingdale's could build at Avalon, they probably would, but that's not too feasible. Another slight possibility could be Atlantic Station, but that's pretty close to their Lenox Square store, so not too likely, either. Years ago, there was talk of shopping mall owner Taubman Companies building a high-end center in South Forsyth County, anchored by a Neiman Marcus, so perhaps that project may come to life again with a Bloomingdale's as an anchor.

Anyway, big picture, some county and municipal governments are really going to miss the sales tax revenues generated by the Macy's store in their community, not to mention the employees who will miss working in the store, too.

[Born 2 Roll]

The big news isn’t that Macy’s is closing 150 stores. The big news is that Macy’s still has 500 stores open and operating in 2024???

HOW IN THE WORLD are the Macy’s stores at Gwinnett Place Mall, Southlake Mall, the Mall at Stonecrest, Northlake Mall and Arbor Place Mall still open in 2024????

It’s AMAZING that those metro Atlanta stores are still open in 2024.

To be honest, I don’t know if Macy’s locations in North Point Mall, Town Center Mall (which was foreclosed on 2 years ago), and Cumberland Mall are exactly lighting it up either in this era.

And it seems to be quite astonishing that Macy’s is planning to open 15 Bloomingdale’s stores in the current post-apocalyptic bricks-and-mortar retail environment.

In this day and age there’s probably not many people looking for Bloomingdale’s to open any new stores anywhere, including here in metro Atlanta.

The opening of a new Bloomingdale’s store as the anchor of a high-end center in South Forsyth County seems to be improbable at this point in time given all of the buzz surrounding the supposedly pending construction of a multipurpose arena-anchored large mixed-use development (“The Gathering at South Forsyth”) that is intended to attract an NHL franchise back to the Atlanta market.

… Which the aforementioned multipurpose arena-anchored “Gathering at South Forsyth” mixed-use development supposedly is being developed on the land that you spoke of that was originally proposed to be the site of a Neiman Marcus department store anchored high-end center… And Taubman Companies was purchased in 2020 by Simon Property Group who seems likely to direct any future luxury brick-and-mortar retail outlets to its commercial retail property holdings at Phipps Plaza and Lenox Square Mall.

The days of large upscale department stores like Macy’s and Bloomingdale’s anchoring new high-end shopping centers seems to at least largely be a thing of the past.

At this point in time, it’s not clear that too many local governments are going to miss the sales tax revenues generated by a Macy’s department store, given that so very many other large department stores have shutdown over the past decade of apocalyptic and post-apocalyptic conditions for bricks-and-mortar retail, and given that much of Macy’s bricks-and-mortar retail infrastructure seems to have been living on borrowed time for the past several years.

Local governments seem to be compensating for the loss of department store sales tax revenues with the construction of more industrial commercial developments (including distribution centers, Amazon warehouses, etc), the construction of higher-density mixed-use developments (like Avalon, etc) and increased property tax revenues generated from the significant increases in real estate values that have occurred over the last several years.

The retail market and the world at large appears to have moved on from the upscale department store anchored large enclosed regional shopping mall concept that was popular in the late 20th century.

[Fountain-of-youth]

Macy's has 22 stores in the state.

[Born 2 Roll]

Originally Posted by Fountain-of-youth

Macy's has 22 stores in the state.

Yep.

Macy’s has one store in Columbus, one store in Savannah, one store in Augusta and 19 total stores in metro Atlanta.

Though, I must admit that I am still trying to wrap my mind around how Macy’s still has a bricks-and-mortar store open and operating at the remains of Gwinnett Place Mall in 2024.

[Iconographer]

Originally Posted by Born 2 Roll

Yep.

Macy’s has one store in Columbus, one store in Savannah, one store in Augusta and 19 total stores in metro Atlanta.

Though, I must admit that I am still trying to wrap my mind around how Macy’s still has a bricks-and-mortar store open and operating at the remains of Gwinnett Place Mall in 2024.

Consider that while large US chains ie Macy's are floundering, their European counterparts continue to make a go of it. Also consider that their customers have the same online options thar we do. I'm frankly growing weary of the argument that Macy's failures are wholly attributable to the growing presence of online retail; rather, I chalk it up to laziness and a lack of creativity and streamlining in their marketing efforts.
This article sums up my feelings pretty well:

https://www.businessoffashion.com/ar...rtment-stores/

It sounds to me like Macy's is finally getting with the program. I infer that the 'new' Bloomingdale's will more closely follow a European-style business plan. while Blue Mercury is something akin to a hybrid day spa.

[bu2]

Originally Posted by Born 2 Roll

Yep.

Macy’s has one store in Columbus, one store in Savannah, one store in Augusta and 19 total stores in metro Atlanta.

Though, I must admit that I am still trying to wrap my mind around how Macy’s still has a bricks-and-mortar store open and operating at the remains of Gwinnett Place Mall in 2024.

Somehow that and Northlake are "cash flow positive." The CEO said they were going to close some cash flow positive stores. They wanted a higher standard, more profitability. They must have gotten enough cash to cover the rent.

Perhaps they think they can sell or sublease those sites so they aren't stuck with rent and no revenue, although the market for retail can't be good.

[aries4118]

Originally Posted by Iconographer

Consider that while large US chains ie Macy's are floundering, their European counterparts continue to make a go of it. Also consider that their customers have the same online options thar we do. I'm frankly growing weary of the argument that Macy's failures are wholly attributable to the growing presence of online retail; rather, I chalk it up to laziness and a lack of creativity and streamlining in their marketing efforts.
This article sums up my feelings pretty well:

https://www.businessoffashion.com/ar...rtment-stores/

It sounds to me like Macy's is finally getting with the program. I infer that the 'new' Bloomingdale's will more closely follow a European-style business plan. while Blue Mercury is something akin to a hybrid day spa.

I agree with all of this. And thank you for posting/sharing the article.

[ShenardL]

I would've loved to see a large Korean department store franchise like Shinsegae, Lotte, Hyundai Department Store take over the Gwinnett Mall. They make some beautiful shopping locations in Korea.

[aries4118]

Originally Posted by ShenardL

I would've loved to see a large Korean department store franchise like Shinsegae, Lotte, Hyundai Department Store take over the Gwinnett Mall. They make some beautiful shopping locations in Korea.

This would be awesome - and wise.

[evannole]

Originally Posted by Iconographer

Consider that while large US chains ie Macy's are floundering, their European counterparts continue to make a go of it. Also consider that their customers have the same online options thar we do. I'm frankly growing weary of the argument that Macy's failures are wholly attributable to the growing presence of online retail; rather, I chalk it up to laziness and a lack of creativity and streamlining in their marketing efforts.
This article sums up my feelings pretty well:

https://www.businessoffashion.com/ar...rtment-stores/

It sounds to me like Macy's is finally getting with the program. I infer that the 'new' Bloomingdale's will more closely follow a European-style business plan. while Blue Mercury is something akin to a hybrid day spa.

Fully agree. Macy's hasn't offered a compelling product for 20 years or more. Doing away with iconic regional brands - Rich's here, Maas Brothers in Florida, and so on - and replacing them with the incredibly generic Macy's was a tremendous mistake.