Macy’s announced plans to close 150 stores nationwide over the next two years, including the flagship Union Square store in San Francisco. The closure was described as a business decision by city officials, who emphasized that it was not related to safety concerns. Mayor London Breed assured that the store will remain open until the second phase of closures and that employees will still have jobs until then. She also stated that the city will work with the next business that moves into the property.
Marisa Rodriguez, CEO of the Union Square Alliance, expressed her sadness over the closure and emphasized the significance of Macy’s to the community. She also mentioned that Macy’s will remain open for the foreseeable future and that there will likely be a holiday shopping season in 2024. However, she acknowledged that the announcement still “hurts.”
Local city leaders stressed that the closure was due to profitability issues rather than safety concerns. Macy’s and Bloomingdale’s sales during the 2023 holiday shopping season were down compared to the previous year, which contributed to the decision to close the stores. The company’s new CEO, Tony Spring, aims to focus on higher-end luxury brands and the skincare cosmetics market, which is reflected in the plans to open new Bloomingdale’s and Bluemercury stores.
The closure of Macy’s in Union Square was met with mixed reactions from city officials and local businesses. While some saw it as an opportunity to revitalize the space and attract new businesses, others expressed their sadness at the loss of a long-standing tradition. Supervisor Aaron Peskin suggested that the property could become a mixed-use space, potentially including a new sound stage in Union Square to attract performances.
The closure of Macy’s in Union Square is part of the company’s larger plan to close a total of 150 stores across the United States by 2026. The downsizing is attributed to increased competition from online shopping and other retail giants such as Target and Walmart. As Macy’s shifts its focus towards luxury brands and skincare cosmetics, it aims to create a better retail experience for customers by renovating existing stores and increasing resources in key departments.
The closure of Macy’s in Union Square marks the end of an era for San Francisco, with the store being a significant part of the city’s cultural fabric for generations. While the closure is a business decision, it has evoked strong emotions from the community, as many have fond memories and traditions associated with Macy’s. As the city looks towards the future, it aims to ensure that the space left behind by Macy’s will be utilized in a way that benefits the community and continues to attract people to the area.
