ARIZONA NEWS

Valley business consultant says Macy’s plan to close 150 stores is long overdue

Feb 28, 2024, 9:00 AM

A man is seen walking into a Macy's store that has closing signs in the windows...

Macy's announced plans to close 150 stores in the next three years on Feb. 27, 2024. (Photo by Justin Sullivan/Getty Images)

(Photo by Justin Sullivan/Getty Images)

PHOENIX – A Valley business consultant said she wasn’t surprised when Macy’s announced plans Tuesday to close 150 underperforming department stores over the next three years.

“Macy’s has been a trainwreck for a very, very long time — like that patient has been on life support. It’s in like a retail hospice,” Kristin Bentz, president of Scottsdale-based KB Advisory Group, told KTAR News 92.3 FM’s The Mike Broomhead Show.

After posting a fourth-quarter loss and declining sales, Macy’s said 50 of its namesake stores will shut down by the end of the fiscal year.

The company said it aims to upgrade its remaining 350 stores, with additional salespeople in fitting areas and shoe departments and more visual displays.

At the same time, Macy’s signaled a pivot to luxury, which has fared better overall. It said it would open 15 of its higher end Bloomingdale’s stores and 30 of its luxury Bluemercury cosmetics locations.

Will Macy’s be closing stores in the Phoenix area?

The company didn’t identify which locations were on the chopping block but said the stores set to close account for 25% of its overall square footage but less than 10% of sales.

The venerable retailer operates seven Macy’s department stores in Arizona, including six across metro Phoenix.

“If you’ve been to a Macy’s locally in the Valley, it’s like ‘The Land That Time Forgot,’” Bentz said. “You can’t find someone at the register. If they’re there, they’ve probably been there for 40 years.

“They may have great products, but the way they merchandise them, it’s frightening. This is a correction that is long overdue.”

The Associated Press contributed to this report.

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

File photo of a Valley Metro bus. A pedestrian was killed when he was hit by a city bus in downtown...

KTAR.com

Pedestrian struck, killed by city bus he was trying to stop in downtown Phoenix

A pedestrian was killed when he was hit by a city bus in downtown Phoenix on Monday night, authorities said.

2 hours ago

Insomnia in the summer may be due to Arizona heat, doctor says...

Serena O'Sullivan

Struggling with insomnia? Arizona summer heat may be to blame, sleep expert says

Arizonans who are dealing with insomnia in the summer months can blame the heat, according to a sleep expert with Banner Health.

5 hours ago

The Maricopa County Recorder’s Office website is now offering a virtual tour of the Maricopa Coun...

KTAR.com

Maricopa County Recorder’s Office website offers self-guided virtual tour of elections center

The Maricopa County Recorder's Office website is now offering a virtual tour of the downtown Phoenix elections center.

5 hours ago

Desert tortoises: Do not disturb, AZGFD warns the public...

KTAR.com

Wildlife officials warn against disturbing wild desert tortoises

The Arizona Game and Fish Department (AZGFD) urges the public to keep desert tortoises wild.

6 hours ago

Banner Imaging and HeartFlow are collaborating to offer a new program to help new patients detect c...

KTAR.com

Banner selected to test Medicare dementia care model

The model will work to increase care coordination and improve access to services and supports, which includes respite care, people living with dementia and their caregivers.

6 hours ago

hit-and-run...

KTAR.com

Police investigating fatal overnight hit-and-run in central Phoenix

Phoenix PD responded to the area of 19th Avenue and Van Buren Street regarding a collision that involved a pedestrian.

13 hours ago

Sponsored Articles

...

Sanderson Ford

3 storylines to get you revved up for the 2024 Arizona Cardinals

Arizona Cardinals training camp is just a couple weeks away starting on July 25, and Sanderson Ford is revved up and ready to go.

...

Midwestern University

Midwestern University Clinics: transforming health care in the valley

Midwestern University, long a fixture of comprehensive health care education in the West Valley, is also a recognized leader in community health care.

...

DISC Desert Institute for Spine Care

Sciatica pain is treatable but surgery may be required

Sciatica pain is one of the most common ailments a person can face, and if not taken seriously, it could become one of the most harmful.

Valley business consultant says Macy’s plan to close 150 stores is long overdue