Macy's to close Philadelphia Center City location
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The holiday season won't be the same without the Macy's organ and Christmas display. Photo: Gilbert Carrasquillo/Getty
Macy's is closing its flagship Philadelphia store in Center City.
Why it matters: The location has served as an anchor for Center City retail. Its closure "marks a significant transition" for the neighborhood, said Center City District CEO and president Prema Katari Gupta said at a news conference Thursday.
The big picture: Macy's plans to shut down a total of 66 stores this year with liquidation sales set to begin this month.
- The move comes after Macy's announced early last year it was planning to trim its workforce and close 150 stores by the end of 2026 — about a third of its locations.
- The struggling department store chain is getting smaller as it continues to deal with declining sales.
Zoom in: The Center City location is expected to shutter in March, per the Inquirer.
- The retailer has filled three stories of the historic Wanamaker Building since 2006. The 12-story building also includes office space.
What they're saying: "While this marks the end of an era for Philadelphia's retail landscape, it also signals the beginning of a new chapter," the city's director of commerce Alba Martinez said at the news conference.
Context: Market East has struggled in recent years but is primed for big changes.
- The Sixers are building a new $1.3-billion arena nearby at 10th and Market Streets, which is expected to open in 2031.
New York developer TF Cornerstone, which owns the Macy's portion of the Wanamaker Building, is moving to acquire the rest of the property through foreclosure, per the Philadelphia Business Journal.
- The developer is expected to convert the office portion of the 114-year-old building into residential units, the outlet reports.
Zoom out: Once the Center City store closes, the only remaining Macy's location in Philadelphia will be in Roosevelt Mall.
- The retailer also plans to close three other Pennsylvania locations.
1 thing we'll miss: Holidays at Macy's Center City, which would put on annual holiday light shows, organ performances, and Dickens Village.