Macy’s mulls closing San Francisco flagship amid plans to shutter 150 stores

Pedestrians wait to cross a street in front of the Macy's flagship store in the Herald Square area of New York. Photographer: Demetrius Freeman/Bloomberg

NEW YORK: Macy’s is evaluating closing its San Francisco Union Square flagship, weighing the real estate value of the property against the potential for future sales growth at the store, a person familiar with the matter told Reuters.

The soonest the closure would take place is 2025, the person said. Macy's evaluation of the location is part of a new turnaround strategy announced by the retailer on Tuesday in an earnings call with investors. The department-store chain outlined plans to shutter an additional 150 underperforming Macy’s stores in the U.S. through 2026.