Macy’s store at Palm Desert mall will remain open
The Macy's store at the Palm Desert mall will remain open. This comes as the company plans to close 150 namesake stores across the country as part of its new strategy.
The Palm Desert store's status was confirmed by a representative of Macy's on Wednesday.
Macy's Statement
"Our new strategy is designed to return Macy’s, Inc. to profitable growth and enhance the customer experience. We intend to close approximately 150 Macy’s stores over the next three years. This allows us to focus our investments and resources on Macy’s go-forward locations including full line, furniture and current off-mall locations and Bloomie’s, Bloomingdale’s The Outlet and Bluemercury stores.
We look forward to continuing to serve our customers at Macy’s Palm Desert."
As part of the strategy, Macy’s aims to upgrade its remaining 350 stores, with plans to add more salespeople to fitting areas and shoe departments, while adding more visual displays like mannequins.
At the same time, the company signaled a pivot to luxury, which has fared better overall. It said it would open 15 of its higher end Bloomingdale’s stores and 30 of its luxury Bluemercury cosmetics locations.
Macy’s did not provide a list of planned closures, but San Francisco’s Mayor, London Breed, confirmed that the retailer’s sprawling store in the city’s Union Square downtown shopping district would be shuttered.
Macy’s store closures marked the second biggest store cuts since February 2020 when it announced it was closing 125 of its least-productive stores and cutting 2,000 corporate jobs.
While reporting fourth-quarter adjusted net income and revenue that topped Wall Street expectations, Macy’s offered a muted outlook for the year.
“We are making the necessary moves to reinvigorate relationships with our customers through improved shopping experiences, relevant assortments and compelling value,” said Macy’s CEO Tony Spring, former CEO of Bloomingdale’s who succeeded Jeff Gennette earlier this month.
