Macy’s announced this morning a “bold new chapter” in a press release. The release stated 150 store locations would be closing through 2026, including San Francisco’s Union Square store.
According to Kron4, Mayor London Breed stated: “While San Francisco’s Macy’s is not part of this first wave of 50 closures, I’ve been informed that Macy’s is looking to sell their Union Square property. The process to undergo the sale of their building to a new owner with their own vision for this site will take time, and Macy’s will stay open for the foreseeable future and people will remain employed at the store.”
Macy’s stated that it would be closing “unproductive locations” over the next three years and investing in other locations. While the closure doesn’t seem to be immediate, as stated in Mayor London Breed’s statement, it comes as a blow to many San Franciscans who have fond memories of the iconic store. Macy’s CEO Tony Spring said, “A Bold New Chapter serves as a strong call to action. It challenges the status quo to create a more modern Macy’s, Inc. We are making the necessary moves to reinvigorate relationships with our customers through improved shopping experiences, relevant assortments and compelling value,” in the company’s statement that was released Tuesday morning.
Downtown San Francisco has seen several closures recently, notably with Nordstrom closing their location in SF. The department store also closed the Nordstrom Rack location in San Francisco, although they recently announced a new store would open in Pinole, roughly an hour from SF.
While it’s sad news, you still have plenty of time to enjoy the iconic department store through 2024. The company’s plan included opening up to 45 new Bloomingdale’s and Bluemercury locations along with “Monetizes $600-$750 million of assets” over the next three years.