Will Illinois Lose Any Macy's in Planned Closure of 100 Stores?

Macy’s will close 100 of its stores by early 2017 but hasn’t disclosed whether any of the 24 locations in Illinois will be shuttered.

The retailer’s Illinois locations include stores in Aurora, Bolingbrook, Gurnee, Joliet, Northbrook, Oak Brook, Orland Park, Skokie, Vernon Hills and West Dundee, among others, as well as the flagship State Street store in downtown Chicago.

Macy’s announcement is a continuation of a trend in the retail world of reduced consumer locations following the doubly-whammy hit of the great recession and the incursion in sales from online retailers such as Amazon.

A Macy's press release announcing the changes said locations of stores to be closed "will be announced at a later date, once the company makes final decisions."

Last November, Macy's announced proposals for partnerships to redevelop the State Street store in Chicago would be considered. The 12-story building, originally home to Marshall Field's, is a historic landmark. But the upper floors are not used, and could be developed into residences, office space, or additional retail. Macy's also is open to selling the building outright and leasing back its retail space.

Investors are pressuring Macy's to sell its most attractive real estate, and that would include the State Street store. Macy's owns most of the stores in Illinois.

This year, Macy's has closed 40 stores already. In January, the Peoria location at the Northwoods Mall was identified as one of the stores to be closed.

With Thursday's decision to close 100 more, Macy's will focus its resources on its highest-performing stores while pouring more into "online shopping and mobile apps," according to the press release. In stores that stay open, Macy's plans to add new vendors and increased staffing. The company is planning on "infusing new technology, accentuating high-potential businesses such as fine jewelry, and creating new in-store events and experiences," the release stated.

In January, Macy's chairman said Chicago could be a place where "new ideas" are tested, according to a January Chicago Tribune report.

Macy's intends to keep stores in 49 of the nation's 50 largest markets. Macy's currently operates 728 stores, including 675 "full-line" locations.

"Customers nearly everywhere in America will have easy access to Macy’s stores, with the additional convenience and increased functionality of our dynamic digital offering,” Macy's President Jeff Gennette said in a press statement

This summer, as Gennette took over for Lundgren, The Wall St. Journal foretold "radical changes" to reshape Macy's:

Macy’s, like other traditional department stores, is fending off fierce competition from online rivals like Amazon.com Inc., fast-fashion retailers such as H&M Hennes & Mauritz AB, and even its suppliers such as Coach Inc. or Michael Kors Holdings Ltd., which have built their own store networks.

Employees who work at stores that are closing will be offered positions at nearby stores "where possible," Macy's says, and eligible part- and full-time employees will receive severance benefits.

The 26 Illinois locations include:

• ALTON
• AURORA
• BLOOMINGDALE
• BLOOMINGTON
• BOLINGBROOK
• CALUMET CITY
• CARBONDALE
• CHAMPAIGN
• CHICAGO
• FAIRVIEW HEIGHTS
• GURNEE
• JOLIET
• NORTHBROOK
• OAK BROOK
• ORLAND PARK
• ROCKFORD
• SCHAUMBURG
• SKOKIE
• SPRINGFIELD
• VERNON HILLS
• WEST DUNDEE

Macy's was founded in 1858 when it opened four small department stores in Massachusetts. The company is now an iconic brand in retail nationwide and sponsors the annual Thanksgiving Day Parade through Midtown Manhattan.

photo credit: Chris4682 at en.wikipedia