San Francisco Macy’s to close in devastating blow to downtown

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. 

“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,” Breed said. “Macy’s has expressed to me their commitment to remaining a part of Union Square and our City while they undergo this transition. The City will continue to work closely with Macy’s and any potential new owner to ensure this iconic location continues to serve San Francisco for decades to come.”

Click here to SUBSCRIBE to CA Political Review 

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.

The San Francisco Business Times was first to confirm the Union Square store’s closure.

Click here to read the full article in the SF Chronicle

WP2Social Auto Publish Powered By :