As parent company Macy’s Inc. permanently shutters over 125 of their individual locations in the coming months, Bloomingdale’s is largely expected to be among them.
This article is based on corporate postings and accredited media reports. Linked information within this article is attributed to the following outlets: RetailDive.com, MacysInc.com, BestLifeOnline.com, Locations.Bloomingdales.com, ScrapeHero.com, and CNBC.com.
My last article for NewsBreak is related to the subject of this present piece by virtue of being owned by the same company. “List of Macy’s Location Closings in 2022” detailed current financial metrics of the venerable chain, which has of late been challenged by notable business setbacks.
The article excerpted a January, 2022 piece published by RetailDive.com, titled "How Macy’s Set Out to Conquer the Department Store Business — and Lost," which stated the following: Around its 135th birthday, Macy’s set out to conquer areas of the U.S. where other department stores had long staked their claim. In 1994, thanks to a merger with department store conglomerate Federated, Macy’s nearly quadrupled its store count; a decade later, thanks to a merger with department store conglomerate The May Department Stores Co., it more than doubled that.
Shortly after the Macy’s expansion as noted above, however, the company announced a steep decrease of its location count by approximately 40% over the next several years. In 2020, the company further announced the permanent closure of an additional 125 stores beginning in 2022, with more potentially on the way.
For more information on the matter of these current plans, see BestLifeOnline.com, which stated: On Jan. 5, Macy's confirmed a list of six departments stores it will be closing by the end of the month, USA Today first reported. The downsizing comes as part of the company's plan to shutter 125 of its stores—or one-fifth of all locations in total—over the next three years. "Stores remain an integral part of our omnichannel retail ecosystem," Macy's said in a statement to USA Today on Jan. 6. "As our business evolves, we continue to optimize and reposition our store fleet to more effectively support our omnichannel sales growth and expand market share."
MacysInc.com lists 2021 closures of both entities, including one location in the fourth quarter of a Bloomingdales in Miramar, Florida. See here. The most recent Bloomingdale’s closure was Santa Monica, California, in March of this year, per Locations.Bloomingdales.com.
Macy’s accounted 135 further closures is largely expected to include Bloomingdales, as the two companies are related.
For a comprehensive overview of the Bloomingdale’s chain, Wikipedia’s page is well-attributed: Bloomingdale's Inc. is an American luxury department store chain; it was founded in New York City by Joseph B. and Lyman G. Bloomingdale in 1861. A third brother of both, Emanuel Watson Bloomingdale, was also involved in the business. It became a division of the Cincinnati-based Federated Department Stores in 1930 under then-president Samuel Bloomingdale. In 1994, the Macy's department store chain joined the Federated Department Stores holding company. In 2007, Federated Department Stores was renamed Macy's, Inc.
Let us review further.
The State of Bloomingdales, 2022
According to ScrapeHero.com: There are 86 Bloomingdale's locations in the United States as of June 22, 2022. The state with the most number of Bloomingdale's locations in the US is California, with 21 locations, which is 24% of all Bloomingdale's locations in America.
As official word remains pending regarding specific future Bloomingdale’s closures, it should be noted the company added at least one new location in the prior year. Per CNBC.com: Bloomingdale’s announced Wednesday that its first-ever Bloomie’s location will be opening in Fairfax, Virginia, on Aug. 26. The roughly 22,000-square-foot space will be much smaller than a typical Bloomingdale’s location, which can span upward of 200,000 square feet. The company, which is owned by Macy’s, said Bloomie’s will serve more as a hub for experiences, with a focus on fashion.
Regardless, the company owned by Macy’s is expected to continue to strategically shutter. I will update readers here as those closings are announced.
Though there has been no formal indication of either Macy’s or Bloomingdale’s going out of business, the success of their e-Commerce divisions will continue to be closely scrutinized as the closings continue.
Thank you for reading.