Macy’s is looking to sell its San Francisco Union Square property, Mayor London Breed claimed Tuesday.
“The process to undergo the sale of their building to a new owner with their own vision for this site will take time, and Macy’s will stay open for the foreseeable future and people will remain employed at the store,” Breed claimed in a declaration. “Macy’s has expressed to me their commitment to remaining a part of Union Square and our City while they undergo this transition.”
Macy’s claimed Tuesday it will certainly shut 150 unsuccessful name shops over the following 3 years consisting of 50 by year-end after uploading a fourth-quarter loss and decreasing sales.
As component of the technique, Macy’s purposes to update its staying 350 shops, with strategies to include even more salesmen to suitable locations and footwear divisions, while including much more aesthetic display screens like mannequins. At the exact same time, the firm indicated a pivot to high-end, which has actually gotten on much better total. It claimed it would certainly open up 15 of its greater end Bloomingdale’s shops and 30 of its high-end Blue Mercury cosmetics places.
The Macy’s shops established to close make up much less than 10% of its sales, the firm claimed.
https://www.nbcbayarea.com/news/local/san-francisco/macys-san-francisco-union-square-store-future/3465100/