Iconic San Francisco Union Square Macy's to close amid mass shuttering of locations, supervisor says

IS THE LATEST BLOW TO A STRUGGLING DOWNTOWN SHOPPING DISTRICT. THANKS FOR BEING HERE FOR MIDDAY LIVE ON THIS TUESDAY. I'M JULIANNE GLOVER AND I'M KRISTEN SZE. >> UNLESS THERE IS A MIRACLE ON GEARY STREET, THE UNION SQUARE STORE WILL BE ONE OF ABOUT 150 MACY'S LOCATIONS NATIONWIDE THAT WILL CLOSE BY THE END OF 2026. >> AND WE'RE LEARNING THE RETAILER PLANS TO START NOTIFYING SOME OF ITS EMPLOYEES TODAY IF THEIR STORE WILL CLOSE. SAN FRANCISCO SUPERVISOR AARON PESKIN CONFIRMING THE CLOSURE OF THE UNION SQUARE LOCATION. HE TELLS ABC SEVEN NEWS THE STORE WILL REMAIN OPEN UNTIL THE BUILDING IS SOLD. MACY'S SAYS THE CLOSURES ARE DUE TO SLUGGISH SALES, AND THEY'RE HOPING TO FEND OFF A PENDING TAKEOVER BID. >> THE COMPANY PLANS TO OPEN MORE SMALL VERSIONS OF BLOOMING DALE'S AND BLUEMERCURY STORES, WHICH ARE OWNED BY MACY'S. IT'S NOT CLEAR IF

Channel: ABC7 News Bay Area

Views: 6,465

Keywords: news, abc, abc7news, San francisco macys, sf union square, retail store closure, macys location closing

Id: pybylzAhTKg

Length: 1min 4sec (64 seconds)

Published: Tue Feb 27 2024