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Closing: 5 Macy's And 4 Bloomingdale's Stores
Yahoo ^ | 1/4/12 | AP

Posted on 01/05/2012 8:41:39 PM PST by Lmo56

CINCINNATI (AP) — Macy's Inc. says it will close five Macy's and four Bloomingdale's stores that are underperforming.

Clearance sales will begin at the stores Sunday and run for 10 weeks.

More than 830 workers will be affected by the closings — 375 at Macy's stores and 463 at Bloomingdale's. But many may have the option of taking jobs at new stores the company plans to open.

The closing Macy's stores are in Topeka, Kan.; Laurel, Md.; Parma, Ohio; Antioch, Tenn.; and Texas City, Texas. The Bloomingdale's closures are in Atlanta; Oak Brook, Ill.; North Bethesda, Md.; and in the Mall of America in Bloomington, Minn.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Business/Economy
KEYWORDS: bhoeconomy; bloomingdales; closing; macys; retail
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Ohhh Great ....
1 posted on 01/05/2012 8:41:47 PM PST by Lmo56
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To: Lmo56

That’s not good at all. The ‘burbs I’m familiar with tend to be affluent and have been less affected by the failing economy. So, if they are under-performing, God knows how the rest of the country is doing. Can’t wait to see how the Administration spins this, showing how well everyone did over the Christmas season.


2 posted on 01/05/2012 8:44:54 PM PST by EDINVA
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To: Lmo56

The “new normal”; Wal-Mart will now be our country’s “company store”, where you can spend your company scrip and settle up most of what you owe on payday before adding to your tab.

However off-center many of their points (and sponsors) may be, the Occupy Wall Street crew at least focuses the spotlight on the death of our way of life.


3 posted on 01/05/2012 8:45:24 PM PST by kearnyirish2
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To: Lmo56

These are stores that have reduced the quality of their product lines in recent years but have kept high prices because of their names. This business model can’t survive today.


4 posted on 01/05/2012 8:47:01 PM PST by Secret Agent Man (I'd like to tell you, but then I'd have to kill you.)
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To: Lmo56

Wow.. Bloomies at MOA... that’s gonna be some space to fill.


5 posted on 01/05/2012 8:47:45 PM PST by Keith in Iowa (No Mit Sherlock. No Mit, not now, not ever. | FR Class of 1998 |)
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To: Lmo56

Hope and change.


6 posted on 01/05/2012 8:48:04 PM PST by Proud2BeRight
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To: Keith in Iowa

That is what I was thinking.

The MOA is huge. Bloomingdales space it a large anchor corner. Very high rent. I bet it remains empty a while.


7 posted on 01/05/2012 8:52:44 PM PST by cableguymn
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To: Keith in Iowa

Filenes closing here in the Cleveland burbs. e


8 posted on 01/05/2012 8:52:44 PM PST by bonfire
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To: Keith in Iowa

Filenes closing here in the Cleveland burbs.


9 posted on 01/05/2012 8:53:07 PM PST by bonfire
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To: Lmo56

A total of nine stores, and this rates being posted on FR. Nine stores is NOTHING. They probably closed that many when the economy was great.


10 posted on 01/05/2012 8:53:15 PM PST by SeaHawkFan
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To: Lmo56

The spinners preaching Obamanomics will somehow claim this as another sign of recovery.


11 posted on 01/05/2012 8:54:34 PM PST by Brandonmark (2012: Our Hope IS Change!)
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To: Secret Agent Man

I don’t know about that...I was in Macy’s for Christmas shopping and couldn’t believe the discounted prices. I was wondering how they made a profit. And I was looking at Ralph Lauren and Joan Vass - two good names in fashion.

Maybe they have some lower quality lines - like Style & Co. but those are dirt cheap - and the quality doesn’t seem that bad to me.

Tough times!


12 posted on 01/05/2012 8:55:02 PM PST by Aria ( "If we ever forget that we're one nation under God, then we will be a nation gone under.")
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To: EDINVA
Bloomingdale's Outlet stores coming to Dallas, Grand Prairie

"Bloomingdale's Outlets stores will arrive in Dallas and Grand Prairie this spring, as other Bloomingdale stores close across the country."

That's not surprising since Texas is a Right to Work state with low taxes and a strong pro-business climate.

13 posted on 01/05/2012 8:59:47 PM PST by re_nortex (DP...that's what I like about Texas.)
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To: bonfire
Filenes closing here in the Cleveland burbs.

Filenes Basement is owned by Syms - both closed all stores as of 1/1/12.

Macy's closing 9 stores [includes Bloomies], Sears/Kmart closing over 100, Boeing to shut down Wichita plant, Penn Camera in DC area closing over half its stores, Eastman Kodak preparing Chapter 11.

Drip ... Drip ... Drip ...

14 posted on 01/05/2012 9:00:07 PM PST by Lmo56 (If ya wanna run with the big dawgs - ya gotta learn to piss in the tall grass ...)
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To: Aria

I’m not talking about the holiday sales times where they raise the retail prices and then do a “big” discount. I am talking about the normal non-sales times of the year.


15 posted on 01/05/2012 9:03:55 PM PST by Secret Agent Man (I'd like to tell you, but then I'd have to kill you.)
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To: cableguymn

The S-Trib says, “The Mall of America said Wednesday it is negotiating leases with at least five retailers to replace the iconic Bloomingdale’s store, which is closing after 20 years at the location. The mall also said it will spend $30 million to $50 million on renovations and convert a sub-level storage area into retail and restaurant.”

Will be interesting to see how it pans out...


16 posted on 01/05/2012 9:04:21 PM PST by Keith in Iowa (No Mit Sherlock. No Mit, not now, not ever. | FR Class of 1998 |)
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To: Lmo56

*ding* Bottom floor, Hope and Change.

That should be printed on the pink slips of the employees.


17 posted on 01/05/2012 9:07:23 PM PST by brownsfan (Aldous Huxley and Mike Judge were right.)
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To: Lmo56

There isn’t a KMart anywhere near Dallas. Opened a brand new state of the art KMart in Allen,TX back in the late 90’s. Self check out, etc. It lasted about 2 years.

We have two here in NE Ohio. One in a dilapidating community. Wonder how it will fare? btw, they are WAY overpriced on groceries.


18 posted on 01/05/2012 9:07:27 PM PST by bonfire
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To: Lmo56
Macy's had a decent fourth quarter:

CINCINNATI (AP) - Macy's (M) is raising its earnings outlook for the fourth quarter and full year due to a strong holiday season and says it will double its quarterly dividend to 20 cents a share. The retailer is also increasing its share repurchase program by $1 billion.

19 posted on 01/05/2012 9:08:47 PM PST by Leroy S. Mort
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To: EDINVA

Must be all the ATMs outside the stores.


20 posted on 01/05/2012 9:13:03 PM PST by warsaw44
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To: re_nortex

Yeah, but there’s a big difference between outlets and the retail department stores. I didn’t read that they’re closing any outlets. People seek bargains everywhere.


21 posted on 01/05/2012 9:14:55 PM PST by EDINVA
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To: Lmo56

A couple going from Maryland - looks like that Millionaire tax they instituted that drove high earners from the state is doing some collateral damage - class warfare usually does - nice going lefties......


22 posted on 01/05/2012 9:17:14 PM PST by Intolerant in NJ
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To: warsaw44

Hmmm, Bloomingdale’s closing in Oak Brook, IL, an extremely affluent suburban village about 20 miles west of Chicago, is a bad sign of the times. Lots of wealthy people live in Oak Brook, and if Bloomies isn’t making it there, it might not be doing so well anywhere.


23 posted on 01/05/2012 9:18:11 PM PST by flaglady47 (When the gov't fears the people, liberty; When the people fear the gov't, tyranny.)
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To: Keith in Iowa

Maybe O can arrange for a Chevy Volt dealership to set up shop in the soon to be empty cavernous space.


24 posted on 01/05/2012 9:19:40 PM PST by Shannon
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To: Lmo56
Texas City, Texas - spent two amazing years there.


25 posted on 01/05/2012 9:22:42 PM PST by Liberty Valance (Keep a simple manner for a happy life :o)
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To: Keith in Iowa

I’ve done deliveries to the MOA. The “sub level” is the network that is used to get products to the stores. So uhh.. how are they going to do it now?

I’ll bet dollars to doughnuts the new renter will pay considerably less per square foot than bloomingdales.


26 posted on 01/05/2012 9:25:04 PM PST by cableguymn
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To: Liberty Valance

Half the stores in that mall are closed already, which is odd because north Galveston county is doing well. There is another Macy’s only 10 miles up the freeway though.


27 posted on 01/05/2012 9:26:02 PM PST by 38special (Sad, really.)
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To: 38special

Thanks for the info. I need to get back for a visit ... soon.


28 posted on 01/05/2012 9:29:14 PM PST by Liberty Valance (Keep a simple manner for a happy life :o)
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To: Secret Agent Man

That’s definitely true of Macy’s. They bought out a number of local/regional chains some years back and, without making any significant changes to those stores, tacked the Macy’s name on them.

So instead of being somewhat exclusive with stores only in NYC and SF, Macy’s became middle of the market nationally. At least that’s been the case in the metro DC area. They had one ‘original’ Macy’s that was nice; then they bought out Hecht’s and just threw Macy’s signs on those stores.

And, historically, neither Macy’s nor Bloomingdales were top of the line department stores in NYC. Together with Gimbel’s, their target was the working/middle class. The upper classes shopped at Bergdorf’s, Saks, Bonwit Teller, B. Altman’s, Best & Co., etc. Only Bergdorf’s and Saks are still in business today. Department stores as we knew them are pretty much dinosaurs.


29 posted on 01/05/2012 9:29:31 PM PST by EDINVA
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To: Liberty Valance

What happened there?


30 posted on 01/05/2012 9:40:48 PM PST by cmsgop ( The left always accuses the right for the sins of the left. from FReeper Just Lori, RIP)
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To: cableguymn

Dollars to doughnuts say that they’re going to build a casino in that area. They’re looking at expanding gambling in Minnesota to pay for a Vikings stadium and for the education budget shortfalls. What better place to do it than to build a casino in the world’s busiest mall?


31 posted on 01/05/2012 9:45:06 PM PST by NorthStarStateConservative (The Democrat Party: Making Black People Slaves in Some Form Or The Other Since the 1850s)
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To: Keith in Iowa
Wow.. Bloomies at MOA... that’s gonna be some space to fill.

Sounds like the county should put a new jail there - save itself a lot of transportation expense. :)

32 posted on 01/05/2012 9:45:30 PM PST by Mr. Jeeves (CTRL-GALT-DELETE)
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To: Keith in Iowa
Wow.. Bloomies at MOA... that’s gonna be some space to fill.

Sounds like the county should put a new jail there - save itself a lot of transportation expense. :)

33 posted on 01/05/2012 9:45:30 PM PST by Mr. Jeeves (CTRL-GALT-DELETE)
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To: cmsgop

Ike.


34 posted on 01/05/2012 9:45:46 PM PST by Liberty Valance (Keep a simple manner for a happy life :o)
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To: flaglady47
Hmmm, Bloomingdale’s closing in Oak Brook, IL, an extremely affluent suburban village about 20 miles west of Chicago, is a bad sign of the times.

Bloomies at White Flint Mall [North Bethesda, MD] also closing. WF is a VERY upscale mall, lots of pricy boutiques. Lord & Taylor will be the only anchor store left - bad sign ...

35 posted on 01/05/2012 9:57:35 PM PST by Lmo56 (If ya wanna run with the big dawgs - ya gotta learn to piss in the tall grass ...)
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To: SeaHawkFan

“A total of nine stores, and this rates being posted on FR. Nine stores is NOTHING. They probably closed that many when the economy was great.”

Maybe, but throw in the Sears/Kmart closings and I start remembering fall of 2008 with the closings of Mervyns, Circuit City etc.

So, which is it to be this year - recovery, stagnation, or crash?


36 posted on 01/05/2012 10:48:22 PM PST by ngat
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To: Lmo56

The Obama economy. Hopey changey


37 posted on 01/05/2012 11:09:48 PM PST by vpintheak (Occupy your Brain!)
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To: Lmo56
They were overpriced anyway. When the economy tanks people wake up to the fact that they are essentially paying hundreds of dollars a year for the privilege of shopping at the mall, hundreds of dollars that they need not spend if they could bring themselves to shop at Target or thrift shops.
38 posted on 01/05/2012 11:40:11 PM PST by SoCal SoCon (Conservatism =/= Corporatism.)
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To: Lmo56
Filene's Basement gone in the Boston, MA area. Dozens of smaller stores closing in CT and RI.

Yet all we hear from the media: The economy is getting SO much better! BS

39 posted on 01/05/2012 11:42:54 PM PST by nutmeg
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To: Mr. Jeeves
Sounds like the county should put a new jail there

The Bloomington Police Department has holding cells in the basement.

40 posted on 01/05/2012 11:47:22 PM PST by Gideon7
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To: cableguymn

MOA had some big expansion plans that were put off by the Great Recession.

Now they’re going backwards it seems.


41 posted on 01/05/2012 11:50:09 PM PST by Gideon7
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To: EDINVA
You are absolutely correct!

I remember talking to my mother about 10 years ago about a Macy's in Tucson, AZ. I said it felt like a slightly upscale K-Mart. I asked my mother "What happened to Macy's, it used to be an upscale store?"

My mother laughed and said that Macy's was definitely not an upscale store. It was mid-range.

I think back on the '80 when I was in NYC just before Christmas. There were several old line Department Stores on 5th Avenue. All had front windows, decorated for Christmas, and were animated. The most beautiful department store was B. Altman's. Unfortunately, it no longer exists.

42 posted on 01/06/2012 12:22:02 AM PST by Cowboy Bob (Greed + Envy = Liberalism)
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To: Lmo56

All day on the radio two days ago the business report was touting the exceptional sales figures for Macy’s-— apparently NOT. Will this fake crap ever stop.


43 posted on 01/06/2012 12:45:30 AM PST by John S Mosby (Sic Semper Tyrannis)
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To: kearnyirish2

Company store, company bank, wal-money is next and everybody eating wal mart generic white label crap. Is everybody happy? Shrimp from China.


44 posted on 01/06/2012 12:47:17 AM PST by John S Mosby (Sic Semper Tyrannis)
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To: re_nortex

Y’all do know that outlet stores sell lower quality “branded” items. Every brand company has their own “knock off” cheaply made items— and their margins are better.
You’d get a better deal at the Goodwill in Palm Beach.


45 posted on 01/06/2012 12:50:39 AM PST by John S Mosby (Sic Semper Tyrannis)
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To: EDINVA

Not true when macy’s acquired Marshall Fields in Chicago. The merchandise has been downgraded. High end women’s fashions are gone. Men’s fashions are not too far above J.C. Penny. Macy’s did heavy discounting from average retail pricing. Believe mw they did not mark-up to mark down.

Little discussed factoid; the number of applicants for the Christmas season
help at these stores astronomical.

Hopey/changey. Why does’nt Zer0 bailout dept stores?

High end retail is down

It’s the economy.


46 posted on 01/06/2012 1:43:49 AM PST by ChiMark (chewed up his body for a decade)
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To: EDINVA

Not true when macy’s acquired Marshall Fields in Chicago. The merchandise has been downgraded. High end women’s fashions are gone. Men’s fashions are not too far above J.C. Penny. Macy’s did heavy discounting from average retail pricing. Believe mw they did not mark-up to mark down.

Little discussed factoid; the number of applicants for the Christmas season
help at these stores astronomical.

Hopey/changey. Why does’nt Zer0 bailout dept stores?

High end retail is down

It’s the economy.


47 posted on 01/06/2012 1:44:02 AM PST by ChiMark (chewed up his body for a decade)
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To: EDINVA

Not true when macy’s acquired Marshall Fields in Chicago. The merchandise has been downgraded. High end women’s fashions are gone. Men’s fashions are not too far above J.C. Penny. Macy’s did heavy discounting from average retail pricing. Believe mw they did not mark-up to mark down.

Little discussed factoid; the number of applicants for the Christmas season
help at these stores astronomical.

Hopey/changey. Why does’nt Zer0 bailout dept stores

.


48 posted on 01/06/2012 1:44:30 AM PST by ChiMark (chewed up his body for a decade)
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To: Aria

Never heard of Joan Vass and I’m a Macy’s shopper.


49 posted on 01/06/2012 2:05:37 AM PST by Ann Archy ( ABORTION...the HUMAN Sacrifice to the god of Convenience.)
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To: ChiMark

Same with Macy’s/L.S. Ayres...

Ayres was always middle-high end. When Macy’s took over, the quality went down, the iconic Tea Room closed, and the prices went up.

Lunch at the Tea Room in Downtown Indy during Christmas shopping was a family tradition for many years.


50 posted on 01/06/2012 2:07:29 AM PST by tcrlaf (Election 2012: THE RAPTURE OF THE DEMOCRATS)
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