DALLAS — Read this story and more North Texas business news from our partners at the Dallas Business Journal
Macy’s Feb. 27 announcement that it will shutter 150 "underperforming" locations over the next three years was met with concern for the future of the retail giant, including in Dallas-Fort Worth, which is home to nearly a dozen stores.
But the two-story department store at NorthPark Center in Dallas has been assured that it is not on the company’s closure list, according to a spokeswoman with the mall. Macy's has been in business at one of Dallas’ top shopping destinations since 2006 and will not be a part of the 150 stores to shutter by 2026.
Representatives from other Macy's that anchor malls in the area, including Stonebriar in Frisco and the Shops at Willow Bend in Plano, said they had not heard from the company about the future of its Macy’s stores.
A representative for Hulen Mall in Fort Worth, Town East Mall in Mesquite and Parks Mall in Arlington redirected Dallas Business Journal to Macy’s corporate office regarding the status of its stores.
Additionally, in an email exchange with a representative from the Dallas Galleria, a representative told DBJ the mall had "no knowledge" regarding the status of losing its Macy's but would be surprised if it shut down given the numbers from the store. Later, during a follow-up call, the representative said the Business Journal should reach out to Macy's for any information on any planned closures.
Macy’s, however, has not publicly released a list of stores that will close and has only hinted at a handful of closings. When the initial news broke of Macy’s new strategy, Dallas Business Journal affiliate publication San Francisco Business Times reported that the massive 700,000-square-foot Union Square flagship store in downtown San Francisco will shutter.
As part of its new strategy to grow revenue and stay afloat, the New-York based company also said it plans to pivot to expanding its luxury brand footprint — stores that have outperformed in the upscale shopping market. These brands include its beauty retailer, Bluemercury, which has a store in Highland Park Village, and Bloomingdale’s, which has an outlet store in Dallas’ Shops at Park Lane, across from NorthPark.
Bob Young, managing director at Dallas-based real estate firm Weitzman, predicted that Macy’s rebranding wouldn’t have much impact on the area’s stores, given the number of "good malls" in the region.
“In DFW, I think that it's maybe less likely that there's a bad thing around the corner,” he told Dallas Business Journal. Young said he saw the company's updated strategy as a way for the veteran brand to be sustainable and carry on its legacy.
Compared to other markets, Young added he thinks Macy’s positioning in the Metroplex is relatively strong. DFW is home to about 18 malls according to 2020 estimates from Weitzman and many of these still see plenty of foot traffic from shoppers.
