How Macy's closures will set off a wave of changes at shopping malls and reshape the suburbs Macy's to close 150 stores in major turnaround effort By Dominic Yeatman For Dailymail.Com Published: 01:09, 15 August 2024 | Updated: 01:09, 15 August 2024 e-mail 15 shares 14 View comments The American shopping experience is heading for a radical transformation as malls across the nation face up to the retreat of retail giants that have kept them in business for generations. Macy's has begun shuttering 150 of its stores as consumers increasingly turn to online shopping and budget retailers .
And other big names including Dillards, JCPenney and Neiman Marcus have joined the exodus, leaving many retail parks without the anchor tenants on which they depend. Experts have warned that many malls will go to the wall as they struggle to find replacements for their 'big box' tenants, and that those which survive will have to drastically improve their appeal. 'If it's in a really bad location where no one wants to spend money to knock it down, then it could rot,' said Chris Wimmer of Fitch Ratings.
The disappearance of anchor tenants such as Macy's spells doom for hundreds of malls across the US in the face of increased online shopping, analysts have warned But some are bucking the trend as they diversify into entertainment, food and fitness Macy's had already closed a third of its stores in just ten years when it announced it was accelerating the process in February. By 2026 there will be ju.