Will Macy’s Be Closing Iconic Flagship Manhattan Store?

The company has addressed rumors of the closing of the store famously featured in the holiday classic Miracle on 34th Street.

Macy'sis  an American department store chain founded in 1858 by Rowland Hussey Macy. It has been a sister brand to the Bloomingdale's department store chain since being acquired by holding company Federated Department Stores in 1994, which renamed itself Macy's, Inc. in 2007. It is the largest department store company by retail sales in the United States as of 2023.

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Macy's operates with 508 stores in the United States. Its flagship store is located at Herald Square in the New York City borough of Manhattan. The company had 94,000 employees and an annual revenue of $25.3 billion as of January 2023.

Macy's Herald Square is one of the largest department stores in the world. The flagship store covers almost an entire New York City block, features about 1.1 million square feet (100,000 m²) of retail space, includes additional space for offices and storage, and serves as the endpoint for the Thanksgiving Day parade. The value of Herald Square alone is estimated at $3 billion.

About Those Rumors That Macy's Is Closing Its Flagship Store?

Accordng to the U.S. Sun, Macy's has shutdown rumors that they will be shutting down their flagship store at Herald Square in Manahattan, reassuring customers that the company is committed to keeping the flagship store open and have no plans to shutdown the location.

“We remain committed to our Herald Square location and look forward to continuing to serve our customers there,” a Macy's Inc spokesperson said, according to the article.

Built in 1902, the location is one of the world’s largest single shops since it expanded to 7th Avenue in 1924. It has hosted many events, including the first Macy’s Thanksgiving Day Parade in 1929 and Fourth of July fireworks in 1976 for America's bicentennial celebrations.

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The store was also famously the setting of the 1947 holiday classic Miracle on 34th Street and its 1994 remake. Macy’s CEO Tony Spring in December said it plans to close about 150 locations by the end of 2026, blaming competition from big box retailers, the rise of e-commerce and high overhead costs.