Days left until Newark Macy's store closes doors for good
Days left until Newark Macys store closes doors for good
Macys is shuttering its NewPark Mall store as the giant retailer embarks on a "bold new chapter."
NEWARK, Calif. - The once-bustling Macy's store in the NewPark Mall is now left to lure deal-seekers eager to pick the bare bones of the dying retail giant.
Once a staple
What they're saying:
"I heard it's closing and good deals, and she wanted a ring and I want to make her happy," said shopper Sid Kapoor, referencing a woman standing next to him outside the store.
Shopper Cynthia Brown added, "I wanna go in because Macy's is a staple. And I used to come here and spend a lot of money. And so now I just want to go in and see what they're giving away. I can't believe Macy's is closing."
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This store was a one-time anchor for NewPark Mall dating back to the 1980s. Now not only is everything on the floor for sale, but so are shelving and decorations.
"I've been here a few times already and there's some really good deals here. I'm sad to see this place shut down," said shopper Corrina Rodrigues.
Sales decline
By the numbers:
Over the past 15 years, store sales have slumped, from an estimated $100 million annually to just above $50 million.
Macy's executives, in a move to prop up front-running stores, announced last month that they're cutting ties with 66 properties, including the one in Newark.
Its "Bold New Chapter" will invest in 350 stores making the prescribed financial mark and will eventually shutter another 150.
‘Unproductive’ stores shuttering
What we know:
"We are closing under-productive Macy's stores to allow us to focus our resources and prioritize investments in our go-forward stores," officials wrote in a news release.
Macy's is the latest but certainly not the last retailer prompted to make difficult business decisions to survive. Some experts say it's part of an evolving business climate.
"You have too much supply, and then you have a great reduction in demand… the malls that relied on, you know, 'this is my neighborhood mall, so I'm gonna go there.' They don't have enough people going there anymore," said Dr. Robert Chapman Wood, a strategic management professor at San Jose State University.
He said competition from online delivery services has dealt a deep blow to brick-and-mortar retailers.
To survive, Wood believes malls will need to make shopping more about the destination, not just the shopping deals.
"The Valley Fair Mall is actually expanding and attracting new tenants, new retailers. Retailers that want to be in an exciting place," said Wood.
For those malls and stores unable to add the next new spark of attraction, it's an ominous sign of what's ahead.
"It's sad that it's going, but what can we do?," asked Kapoor. "Things happen."
This, as American businesses weigh anchor on what was and navigate seas of change.
Jesse Gary is a reporter based in the station's South Bay bureau. Follow him on Instagram, @jessegontv, and on Facebook, @JesseKTVU.
The Source: A Macy's news release, interviews with shoppers and Dr. Robert Chapman Wood of San Jose State University.