Topline
Macy’s will shutter its Center City Philadelphia location in the historic Wanamaker Building tomorrow, reported WHYY, the local PBS station, adding poignancy to W.C. Fields’ famous quip: “I once went to Philadelphia, but it was closed.”
UNITED STATES – JUNE 09: Interior with historic organ, Wanamaker Department Store, Philadelphia, … More
Getty ImagesKey Facts
Philadelphia Macy’s clearance sale prices could go as high as 75% off or more.
Macy’s took over the landmark Wanamaker Building located at 13th and Market Street in 2006.
Retail legacy giant John Wanamaker founded his namesake John Wanamaker & Co business in 1869 and opened the 12-story building in 1911 to house what was then the world’s largest retail department store with 45 acres of floor space.
The Wanamaker Building is famous for its gigantic 30,000 pipe, 22-karat gold-faced organ, which Wanamaker acquired from the St. Louis World’s Fair, and the tradition of twice-daily performances that Macy’s carried on.
The Wanamaker Building is on the Philadelphia Register of Historical Places and owned by TF Cornerstone, which has assured the community that the organ will stay in place, along with the nearly equally famous eagle statue acquired at the same time as the organ, while it considers future uses of the property.
Key Background
With Macy’s Inc. revenues tanking – down 9% from $24.6 billion in 2019 to $22.3 billion in 2024 against a backdrop of flagging department store sector sales – it will close 150 Macy’s stores through 2026, including 66 this year. That will bring the number of Macy’s stores down from a peak of about 1,100 in 2008 to 350 stores nationwide. Besides Macy’s flagship department stores and 24 small-footprint locations, Macy’s Inc. also operates 32 Bloomingdale’s luxury department stores, 23 Bloomingdale’s Outlets, four Bloomie’s small format stores and 191 Bluemercury specialty beauty stores.
Shift To Smaller Stores
While Macy’s Inc. it is shuttering flagship stores, it is going long on small-format locations. By the end of the year, Macy’s and Bloomie’s will operate about 30 small-format Macy’s and Bloomie’s stores. Adrian Mitchell, Macy’s Inc. COO and CFO, said the small-format stores are efficient to operate and because of their small size, “present a unique opportunity to target high-traffic shopping centers.”
Crucial Quote
“When Neiman’s in downtown Dallas and Macy’s in Philadelphia close, they will join such other large American cities as Los Angeles, Atlanta and Houston without a single city center department store,” said The Robin Report’s Warren Shoulberg.
Further Reading
The End Of Macy’s Closes The Chapter On The Wanamaker Building. A Look Back At A Philly Landmark (WHYY, 3/21/2025)
Historic Organ Staying Inside Wanamaker Building, New York Firm Says (WHYY, 1/19/2025)
The Downtown Flagship Store Downturn (The Robin Report, 3/12/2025)
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