Macy's customers could soon live inside this iconic flagship store

Macy's has faced its just stock of struggles, experiencing years of declining income that person forced the historical retailer to adjacent dozens of stores and laic disconnected hundreds of firm and retail employees.

Once the person of American section stores, the institution has spent the past decennary shrinking its footprint and rethinking its aboriginal successful the ever-evolving retail landscape.

While galore nostalgic locations person disappeared from section communities, Macy's present appears to beryllium taking backmost the closure of 1 of its astir iconic locations nationwide.

This unexpected determination marks a astonishing twist successful the company's ongoing translation strategy and could adjacent unfastened the doorway for customers to unrecorded wrong 1 of its astir celebrated properties.

In aboriginal 2024, Macy's unveiled its "Bold New Chapter" strategy, a program to shutter astir 150 underperforming stores by 2026 portion focusing investments connected its remaining 350 stronger locations. The company's maturation ambitions present halfway connected its much profitable, higher-end divisions, specified as Bloomingdale's and Bluemercury.

Over the past decade, Macy's has already closed much than a 3rd of its stores, on with a organisation halfway and 2 third-party logistics facilities. Among those slated for closure was the Macy's Union Square Flagship, an astir 400,000-square-foot buying instauration that has served San Francisco for astir a century.

Macy's opened its San Francisco flagship successful 1945, pursuing its acquisition of the tract from O'Connor Moffatt Co., which archetypal launched the store successful 1929. For generations, the gathering has been some a retail destination and a section landmark.

"As idiosyncratic who grew up successful San Francisco, Macy's has ever meant a batch to the radical of this city," said Former San Francisco Mayor London Breed successful a connection astatine the time.

"It's wherever families came to store for the holidays. It's wherever galore radical from my assemblage got their archetypal jobs, oregon adjacent held jobs for decades. It's hard to deliberation of Macy's not being portion of our metropolis anymore."

Now, it seems Macy's (M) is having 2nd thoughts, oregon possibly the spot has proven excessively invaluable to sell.

The institution has partnered with the existent property steadfast TMG Partners to research caller improvement options for the Union Square tract arsenic portion of a broader valuation of its existent property portfolio.

For now, the flagship determination volition stay open, with Macy's readying to proceed operations done astatine slightest the archetypal 4th of 2026. That model volition springiness some companies clip to measure aboriginal uses for the property.