Cincinnati-based retail giant Macy's Inc. is closing 100 stores early next year, but there's a good chance that these 150 locations – including five in the Boston area – aren't on the chopping block.
Macy's (NYSE: M) has committed to making over and upgrading its top 150 locations. Those upgrades could include things like decor, more high-end offerings, better staffing and technology.
Macy's divides its top stores into three groups:
- Platinum doors (there are 30), which lead Macy's in sales and profits
- Market leaders (50), the most important in key markets to grow, sustain or take share
- Top door (70), which have growth opportunity.
It stands to reason that there should be some measure of security felt by those stores as Macy's culls underperformers and locations whose real estate is more valuable than the stores operating there.
The retail giant operates 728 Macy’s-branded locations out of a portfolio of 870 stores under the Macy’s, Bloomingdale’s, Bluemercury, Bloomingdale’s Outlet and Macy’s Backstage brands. The 100 stores to be closed represent about $1 billion in annual sales. The company hopes to retain some of those sales at nearby stores and online.
Minnesota Macy's in the retailer's top 150 locations include stores at Mall of America, Ridgedale and Southdale Center. Not on this list is its flagship store on Nicollet Mall; In a recent earnings announcement, the retailer said it " has been examining opportunities for four of Macy’s large downtown flagship stores in various cities" — a list that, according to previous securities filings, includes its downtown Minneapolis store.
The list of 150 top doors, in no particular order, for Macy's is:
- Herald Square
- Christiana
- Center City
- Roseville Galleria
- San Francisco Union Square
- State Street
- Water Tower Place
- Easton Town Center
- Northpark Center
- Galleria at Houston
- La Plaza
- Willowbrook
- Woodlands
- Baybrook
- Plaza Las Americas
- Lenox Squsre
- Boca Raton Town Center
- Galleria (Fort Lauderdale)
- Wellington Green
- Aventura
- Miami International
- Dadeland
- Orlando Millenia
- Florida Mall
- Ala Hoana
- South Coast Plaza
- Las Vegas Fashion Show
- Victoria Gardens
- Fashion Valley
- Short Hills
- Tysons Corner Center
- Montgomery (Md.)
- Cherry Hill
- Metro Center (Washington, D.C.)
- King of Prussia
- Mall in Columbia
- Fashion Center at Pentagon City
- Boston (downtown)
- Burlington (Mass.)
- Manhasset
- Roosevelt Field
- Garden State Plaza
- Colonie Center
- Warwick
- Westfarms
- Walden Galleria
- Walnut Creek Broadway Plaza
- Pleasanton Stoneridge
- Stanford (Calif.)
- Valley Fair (Calif.)
- Bellevue Square
- Washington Square (Oregon)
- Clackamas Town Center
- Fresno Fashion Fair
- Reno Meadowood
- Sacramento Downtown Plaza
- Cherry Creek Shopping Center
- Oakbrook Center
- Somerset Collection
- Kenwood Towne Centre
- Ridgedale
- Castleton Square
- Oxmoor Center
- South Hills Village
- Ross Park
- Fayette (Ky.)
- St. Louis Galleria
- North Star (Texas)
- Lakeside Shopping Center (Louisiana)
- West Shore Plaza
- Green Hills
- Wolfchase Galleria
- Scottsdale Fashion Square
- Sherman Oaks Fashion Square
- Beverly Center
- Palm Desert
- Micronesia (Guam)
- Santa Anita
- Delamo Fashion Center
- Newport Centre (N.J.)
- Quaker Bridge
- Lehigh Valley
- Willowbrook (N.J.)
- Menlo Park
- Bridgewater Commons
- Springfield (Va.)
- Queens Center
- Smith Haven
- Cross County Shopping Center (N.Y.)
- Flushing
- Green Acres (N.Y.)
- Northshore (Mass.)
- South Shore Plaza (Mass.)
- Natick Collection
- Mall at Rockingham Park
- Kings Plaza
- Staten Island
- Concord Sunvalley
- Modesto Vintage Fair
- Oakridge (Calif.)
- Alderwood
- Arden Fair
- Southcenter (Wash.)
- Park Meadows
- Old Orchard
- Southdale Center
- Mall of America
- Woodfield
- Twelve Oaks (Mich.)
- Summit (Ohio)
- Polaris Fashion Place
- Town Center Plaza (Kansas)
- West County
- Cielo Vista
- Galleria (Dallas)
- Stonebriar Centre (Teaxas)
- North East (Texas)
- First colony
- Barton Creek Square
- Shops at La Cantera
- The Domain (Texas)
- Deerbrook (Texas)
- Short Pump Town Center
- Northpoint (Ga.)
- Mall of Georgia
- The Gardens (Fla.)
- Pembroke Lakes
- Westland (Fla.)
- Streets at Southpoint
- Naples Coastland Center
- Mall at University Town Center (Fla.)
- Countryside
- Arrowhead Towne Center
- Chandler Fashion Center
- Waikiki
- Downey Stonewood Center
- Los Cerritos Center
- Los Angeles Downtown Plaza
- Northridge Fashion Center
- Thousand Oaks
- Glendale Galleria
- Topanga
- Pasadena
- Culver City Center
- Century City (Calif.)
- Brea (Calif.)
- Newport Fashion Island
- Temecula Promenade
- The Shops at Montebello
