MEMPHIS, Tenn. — A big department store may soon be leaving the Mid-South.
Macy’s at Oak Court Mall is on the auction block. The anchor store is now listed for sale by a brokerage firm in Boston.
Ty Bushart had been coming to Macy’s for decades.
“I’m really surprised,” Bushart said. “I mean it’s a busy store in East Memphis that serves the families here and I hate to lose it because it’s a staple and it’s been here forever since the Goldsmith’s days.”
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But like Goldsmith’s, big department stores in Memphis are becoming an endangered species. The lingering crime problem in the city has forced a lot of big retailers out and discouraged others from coming.
“I wish it wouldn’t be sold, because like for shopping it’s close to my home,” said Macy’s customer Dianne Johnson.
Johnson points out that this East Memphis Macy’s is one of only two left in Memphis. The lone survivor will be the store at Wolfchase.
“Even if it’s further away, I don’t go to the mall all the time, so it won’t have a big effect on me,” Johnson said.
There won’t be an effect for many Oak Court Mall visitors like Johnson’s nieces who say she and her friends would still visit even if Macy’s isn’t there.
If Macy’s falls, the other dominoes could follow and the mall could close for good forcing many to contemplate a future they may not like.
“We need small businesses, and we need large box retailers because sometimes they set the trend, and they provide a great place for people to work and shop so I’d hate to see any one of those leave,” Bushart said.
WREG reached out to Macy’s for comment asking if this store is set to close and if there was a reason for this listing.
Their response has been placed below:
Our new strategy is designed to create a more modern Macy’s, Inc. and enhance the customer experience. We intend to close approximately 150 Macy’s stores while further investing in our 350 go-forward fleet over the next three years. A final decision on specific locations has yet to be made.
There is a current evaluation underway comparing the potential real estate value and the future sales growth profitability potential. We look forward to continuing to serve our customers at this time. If at some point we proceed with closing this location, the soonest this will happen will be in 2025.
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