Macy’s to close more than 50 stores by end of year
Macy’s will close 150 unproductive namesake stores over the next three years, including 50 by year-end.
Fox – 5 NY
Katie Castillo said her first visit to Macy’s was the opening of the Victorville store in 2013, “a boring experience that no 9-year-old should have to endure.”
Nearly 11 years after Macy’s opened in the Mall of Victor Valley, Castillo hopes the faltering company does not shutter the Victorville store, one of her favorite places to shop, she said.
“When I hit high school, I rediscovered Macy’s with its makeup and accessories,” Castillo told the Daily Press. “My mom and I hit the mall Macy’s probably every other month.”
Macy’s plans to close 55 stores soon, 150 within 3 years
Macy’s recently announced that it plans to permanently close 55 stores by the end of 2024, in an ongoing effort to revamp the business.
The company backed off initial plans to permanently shutter 50 underperforming stores by the end of 2024, part of 150 total locations it would close within three years.
Macy’s closes more stores: What about the Victorville location?
The locations of the soon-to-be shuttered stores have not yet been announced.
“Many people don’t want the hassle of driving to Macy’s or other stores to go shopping, they’d rather shop online,” said Pam Clinton, who lives in Apple Valley. “I still like to go shopping, especially Target and Macy’s.”
Shopping malls across U.S. suffer dwindling sales
Like many retailers, Macy’s has suffered dwindling sales amid the skyrocketing rise of online competitors and consumer disinterest in suburban malls, industry experts claim.
In 2022, there were nearly 700 malls in the U.S., down from 2,500 in the 1980s, according to Business Insider.
“The biggest things that have gone wrong at Macy’s are the quality of the stores and the product assortment,” GlobalData Retail analyst Neil Saunders told DailyMail. “Over the years customers have deserted it, sales have tumbled and store productivity has gone down. All the metrics have gone in the wrong direction.”
There are 88 Macy’s locations in California, the most in any state, and nearly 500 in the U.S., the company stated.
“While non-go-forward locations are underperformers relative to the total Macy’s fleet, they are valuable real estate assets,” said Macy’s CEO Tony Spring during the company’s most recent earnings call. “Demand for these properties has been strong.”
Macy’s announced in November 2011 that it would open a store at the Mall of Victor Valley. Macy’s took over Gottschalks’ former anchor spot on the northeast side of the mall, which had been vacant since Gottschalks went bankrupt in 2009.
Before the Victorville Macy’s opened in March 2013, High Desert residents had to drive to Macy’s at the Inland Center Mall in San Bernardino or Victoria Gardens in Rancho Cucamonga.
Daily Press reporter Rene Ray De La Cruz may be reached at RDeLaCruz@VVDailyPress.com. Follow him on X @DP_ReneDeLaCruz