Switch at Macy's: The End of an Era

The iconic White Oaks Mall is losing a part of its appeal with the closure of the last major anchor store. Macy's, one of the storied names in American retail, has announced that a total of 66 stores will permanently close by the first quarter of 2025. This move is part of a comprehensive plan to close 150 underperforming stores by early 2026. In Illinois, only one store will be affected, highlighting the economic significance for the region. Macy's had already announced in February 2024 that it would close a third of its locations nationwide as part of the "A Bold New Chapter" strategy. Starting at the beginning of 2025, sales will begin in the affected stores to clear inventory and make room for new developments. The remaining 350 stores are to become the focal point of Macy's investments, aiming to return to a profitable growth path by the fiscal year 2026. The location at White Oaks serves as the eastern anchor point of the shopping mall and will be particularly missed as the last traditional anchor store in the mall. Previously, Bergner's and Sears had already disappeared from the scene in 2018. Tony Spring, Chairman and CEO of Macy's, emphasized in a company statement that closing unproductive stores frees up resources that can flow into the company's future flagship locations. Macy's thus joins the list of major retail chains closing stores nationwide. Bed Bath & Beyond and Kohl's have also announced similar steps; Big Lots plans to close its locations following a payment default and bankruptcy filing. Claire Grant from The State Journal-Register sheds light on developments in the business environment and is available for inquiries at CLGrant@gannett.com. She can be found on the platform X (formerly Twitter) under @Claire_Granted.