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READ MORE: Activist investors call for drastic changes at Macy’s
Macy’s has revealed plans for an unexpected new site.
an intense wave of shutdowns.
The property management firm for Midway Crossings mall, located west of Miami, announced that the new store will be opening there.
It is a surprising choice for the struggling retailer which has previously expressed plans to
move away from malls
and
invest more into its luxurious Bloomingdale’s brand
.
The 55-year-old shopping center in Florida sits near the bustling Palmetto Expressway. The newly planned Macy’s store will join other retailers like Marshall’s, Costco, and Five Below at this location.
A representative for the mall’s property management company Sterling Organization confirmed the upcoming Macy’s opening to the Miami Herald.
Even though a lease has been signed, the site still doesn’t have a confirmed opening date.
the outlet reported.
“We can’t provide details on any specific plans right now,” Macy’s stated in an independent statement.
As per Sterling Organization’s design, the upcoming Macy’s store will span approximately 31,000 square feet, positioning it as one of the bigger retailers within the shopping center.
The shopping center initially opened in 1970 under the name ‘Midway Mall’ with the aim of serving the rural population residing approximately six miles from Dadeland, as reported by the Herald.
Following multiple iterations, it was redubbed Midway Crossing in 2022 as part of an initiative to revitalize the area.
Macy’s is currently
during the closure of 66 outlets
in 23 states by the year-end.
One of the closures included its
enormous location inside Sunrise Mall in Massapequa, Long Island
, having been present for over five decades.
The Macy’s located in Center City, Philadelphia was similarly
closed for good in March
.
By 2026, there will be just 350 Macy’s stores, the 166-year-old company announced in February 2024.
‘We are closing underproductive Macy’s stores to allow us to focus our resources in our go–forward stores,’ Tony Spring, chairman and chief executive officer of Macy’s said at the time.
As well as revamping remaining stores, Macy’s also plans to expand its footprint with 15 new Bloomingdale’s and 30 new Bluemercury locations.
The major turnaround comes as the department store tries to win back shoppers, amid growing pressure from online rivals.
It is also trying to cut costs by culling stores in malls and downtown districts which experts say have been ‘left to rot.’
The plans aim to address issues at Macy’s, with the main problems being the poor condition of the stores and the inadequate range of products, as noted by Neil Saunders, an analyst from Global Data Retail, earlier.
Over time, customers have gradually left, resulting in plummeting sales and decreased store efficiency. Every metric has moved in the opposite direction of what was desired.
The firm is shutting down underperforming outlets and channeling resources into the ones they wish to retain, he mentioned, aiming to strengthen their overall position.
“But naturally, reversing a situation that has deteriorated over several years is not simple, it’s not inexpensive, and it’s not fast,” Saunders stated.
‘Thus, the strategy seems sound, yet the real test lies in how successfully Macy’s can implement it.’
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