Westfield Valley Fair known as Valley Fair is the largest mall in California in terms of area as well as sales revenue. It has many reputed brands, retail stores and showrooms. Along with this, they have 2 Macy’s anchor stores, Bloomingdale’s and Nordstrom.Is Macy’s Valley Fair Closing?Macy’s is one of the largest departmental store chains in the United States of America. They are also affiliated with Bloomingdale’s department store chain.
Macy’s sells all types of products like clothing, footwear, beauty products, jewelry, furniture, and many more. Currently, Macy’s operates 544 of its department stores. They have 34 Bloomingdale’s locations under them with 19 Bloomingdale’s outlets. Apart from this, they have 166 Blue mercury shops. Although these things may sound flashy, the truth is the company is going through some tough times. And to come out from this they are trying to close stores and save expenses.
Is Macy’s Closing At Valley Fair
Is Macy’s Valley Fair Closing? Recently Macy’s has announced that they will close dozens of their stores present across the country and yes, its store in Westfield Valley Fair aka Valley Fair is also on that list. It is their marketing strategy and cover-up for the losses, they are taking this step. Despite being situated in one of the largest malls in California, it’s not profitable enough to run the store anymore. And thus, they have decided to close it down. Macy’s business is not in good condition, so these closures are inevitable.
Why Is Macy’s Valley Fair Closing
Macy’s is closing over a dozen of stores to revive its business. Most of the stores which are getting closed are the underperforming ones, which don’t generate enough revenue. They are shifting their focus from less beneficial mall stores to opening smaller-format stores. But this move is not as surprising as around 40% of Macy’s total revenue now comes from its online business.
In Q3 of 2020 Macy’s sales were 20% down although their online sales increased. And in the current situation that’s more preferable too. Although it’s not entirely due to the COVID-19 pandemic, as Macy’s was already struggling with their retail store revenue. They will be focusing on digital sales as in the areas of underperforming stores digital sales are higher.
Is Macy’s Closing Other Stores Too
Yes, Macy’s is closing over 125 stores which will also take away jobs of almost 2000 people. These stores account for one-fifth of total Macy’s stores. They have already closed 45 stores in 2021 and by 2023 they will be closing these 125 stores.
1. Paradise Valley, AZ
2. El Cajon Parkway, CA
3. Hilltop, CA
4. Brass Mill Center, CT
5. Crystal Mall, CT
6. Port Charlotte Town Center, FL
These are some of those famous stores which are on the list of being closed. While the following stores have already been closed.
1. Park Place, AZ
2. Oakbrook Furniture, IL
3. Woodfield Furniture, IL
4. Commack, NY
5. Eastland Furniture Clearance, OH
Conclusion
COVID-19 pandemic has affected many people and businesses in one way or another and one of such businesses is retail stores. Lockdowns due to the pandemic was disastrous for such businesses. Apart from this, now consumers are also spending a lesser amount of money. All these things have brought large departmental chains to close their less profitable stores in an attempt of shifting their focus to establishing their business again. Is Macy’s Valley Fair Closing? Macy’s is one of such companies, which is taking these steps for their sustainable future. Macy’s is closing more than 100 stores all over the country, which is less profitable to focus on smaller format stores. Their step of closing will also result in people losing jobs and according to them, almost 2000 people will lose their jobs.
Frequently Asked Questions
1.Will all Macy’s stores be closed in the United States?
Answer– No, Macy’s are only closing one-fifth of their stores all over the country and only those stores are closed which were underperforming and were not profitable.
2.Will Macy’s continue their digital sales?
Answer– Yes, Macy’s have seen an increase in their digital sales and they are taking these steps as digital sales were higher in the underperforming store areas.
3.Is Macy’s merging with Amazon?
Answer– No, Amazon is not buying Macy’s. Macy’s is closing some stores to reduce their losses and focus on digital sales and small stores. They are doing it in order to compete with e-commerce giants.
4.Will Valley Fair mall be closed?
Answer- No, Valley Fair mall is not being closed. It will operate as usual. Only Macy’s anchor store is being closed.
5.Will there be a liquidation sale?
Answer- Yes, there will be liquidation and clearance sales which will run for 10 to 11 weeks. At some stores, it has already started and for the rest, Macy’s will soon update.
