For other stores in the Metroplex, the status of their stores remains unclear.
Dallas — read This article and other North Texas business news From our partners at Dallas Business Journal
Macy's Feb. 27 announcement that it would close 150 “unprofitable” stores over the next three years was met with concern for the future of the retail giant, including in Dallas-Fort Worth, where it has nearly a dozen stores. .
However, a spokesperson for the mall said it has been assured that the two-story department store in Dallas' North Park Center will not be on the company's closing list. Macy's has been open in Dallas' premier shopping destination since 2006 and is not among the 150 stores scheduled to close by 2026.
Representatives for other Macy's locations in the area, including Stonebriar in Frisco and the Shops at Willow Bend in Plano, said they have not heard from the company about the future of Macy's stores.
Representatives from Hulen Mall in Fort Worth, Town East Mall in Mesquite and Parks Mall in Arlington forwarded the Dallas Business Journal to Macy's headquarters regarding the store's status.
Additionally, in an email exchange with a Dallas Galleria representative, the representative told DBJ that the mall “knows nothing” about the circumstances surrounding the loss of Macy's, but would be surprised if it closed given the numbers from the store. He said it would be. Later, in a follow-up call, a representative said the Business Journal should contact Macy's with any information about the planned closing.
However, Macy's did not release a list of stores that would close, only hinting that a few would close. The first news of Macy's new strategy came when the San Francisco Business Times, an affiliate publication of the Dallas Business Journal, reported that its massive 700,000-square-foot Union Square flagship store in downtown San Francisco would close. Reported.
The New York-based company plans to pivot to expanding its luxury brand footprint – stores that are performing well in the luxury shopping market, as part of a new strategy to grow revenue and stay afloat. He also said that. These brands include beauty retailer Bluemercury, which has a store in Highland Park Village, and Bloomingdale's, which has an outlet store at The Shops on Park Lane in Dallas, across from North Park. .
Bob Young, managing director at Dallas-based real estate firm Weitzman, said the Macy's rebrand would have a significant impact on stores in the area, given the number of “blue-chip malls” in the area. I predicted it wouldn't.
“In DFW, I think it's probably less likely that something bad will happen around the corner,” he told the Dallas Business Journal. Young said he sees the company's latest strategy as a way for long-established brands to be sustainable and carry on their heritage.
Young added that he believes Macy's positioning in the metroplex is relatively strong compared to other markets. According to Weitzman's 2020 estimates, there are approximately 18 malls in DFW, many of which still have high shopper traffic.
