Macy's Inc. confirmed Thursday morning that it will depart its downtown St. Paul store, affecting roughly 150 workers, the Pioneer Press reports. The announcement comes just days after the terms for a $6.3 million forgivable loan expired on Dec. 31, allowing the retailer to leave without penalty.
Mayor Chris Coleman said, "The Macy's site provides the city with a tremendous opportunity to bring another part of our city into the 21st century," MPR reports.
"We're definitely losing some history," Matt Kramer, President and CEO of the St. Paul Area Chamber of Commerce, told KARE 11. "If you're a native Minnesotan you remember when it was Dayton's and then it became Marshal Fields, and then it became Macy's."
The 362,000-square-foot department store is among five Macy’s and one Bloomingdale’s that the retailer will close nationwide by the end of March as part of what it called "normal-course adjustments to its portfolio of Macy's and Bloomingdale's stores across the country," according to a news release. Final clearance sales at those locations will begin next week.
“In 2001, downtown Saint Paul was in the beginning stages of recovery after several years of decline, and losing a big-box store like Macy’s could have potentially jeopardized that recovery,” Mayor Coleman said in statement, Finance & Commerce reports. “But today the face of downtown has changed, and we stand on a firm foundation that includes the building of hundreds of new housing units, a Lund’s grocery store, the Lowertown regional ballpark, a revitalized Union Depot, and an almost completed Central Corridor light rail line.”
The Ohio-based company also announced it will close one its stores at Ridgedale Center in Minnetonka, Minn., early next year, the Business Journal reports. Macy's Men's and Home will be consolidated with the main store at the mall, which will be expanded from 202,000-squre-feet to 286,000-sqaure-feet. Construction on that project will begin this summer.
Macy's reported Thursday that revenue in stores open at least one year rose 4.1 in December, compared to a year ago.