San Francisco Macy's to close in devastating blow to downtown [View all]
San Francisco Chronicle / Feb 27, 2024
Macy’s will close its massive flagship store in Union Square, San Francisco officials said Tuesday, a major setback to the city’s premier shopping district and its larger downtown recovery efforts during an election year.
The store will remain open until the company finds a buyer for the property, Mayor London Breed said in a statement Tuesday morning. The Chronicle has learned that the store will remain open until at least 2025.
SNIP
Representatives of Macy’s would not confirm the news Tuesday morning. But the Chronicle has learned that the Macy’s at Northgate Mall in San Rafael will also close.
Concerns about the future of the store were rampant early Tuesday morning after Macy’s Inc. announced during an earnings call that it plans to shutter 150 “underproductive” stores across the country through 2026, including 50 by the end of the year. The move came in response to dropping sales and consumer demand shifting online. The company’s investor relations team declined to release the list of stores being closed.
LINK (paywall): https://www.sfchronicle.com/realestate/article/sf-macys-close-18690200.php
This is huge. Macys has been a cornerstone of Union Square for generations, dating back to 1947.
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