Macy's department store in Center City Philadelphia, located in the historic Wanamaker building, will be closing permanently. This closure is part of Macy's 'Bold New Chapter' strategy, which aims to return the company to sustainable profitability.
The Macy's department store in Center City Philadelphia will be closing its doors for good, a spokesperson for Councilman Mark Squilla told Action News.The Macy's department store in Center City Philadelphia will be closing its doors for good, the company announced on Thursday afternoon. The store, located in the historic Wanamaker building at 1300 Market Street, is one of 66 closing across the country. Also on the list of closures is the Macy's in the Exton Square Mall in Chester County.
Macy's said in a news release the closures are part of its 'Bold New Chapter' strategy, which is designed to 'return the company to sustainable, profitable sales growth.' The plan, announced in February 2024, includes the closure of a total of 150 stores over a three-year period.In a statement, Macy's chairman and CEO said the closures will allow the company to focus on its remaining locations.'This is sad news for many Philadelphians. Macy's, and Wanamaker's before, has been more than just a department store. It has been a beloved part of our city's cultural fabric, home to treasured traditions like family trips to see the Christmas Light Show and hear the grandeur of the Wanamaker pipe organ,' said Alba Martinez, Director of Commerce for the City of Philadelphia. However, Martinez said the closure is not an ending, but rather a new beginning for the Wanamaker building and for Market East. She went on to say the city envisions a mix of possible uses for the Wanamaker building, such as retail, dining, residential, cultural attractions and more
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