Macy's at Crossroads is closing

[Moondog]

Macy's, Inc. to Close Nine Stores
CINCINNATI, Dec 28, 2007 (BUSINESS WIRE) -- Macy's, Inc. (NYSE:M) today announced the closing of nine underperforming Macy's stores. They are located in:

* Washington Square, Indianapolis, IN (152,000 square feet; 90 employees; opened in 1974);
* Prien Lake Mall, Lake Charles, LA (116,000 square feet; 75 employees; opened in 2003);
* Rolling Acres Mall, Akron, OH (103,000 square feet; 84 employees; opened in 1978);
* Canton Centre, Canton, OH (120,000 square feet; 76 employees; opened in 1968);
* Randall Park Mall, North Randall, OH (184,000 square feet; 91 employees; opened in 1976);
* Crossroads Mall, Oklahoma City, OK (153,000 square feet; 84 employees; opened in 1986);
* Valley View Center, Dallas, TX (300,000 square feet; 132 employees; opened in 1973);
* Sharpstown Center, Houston, TX (308,000 square feet; 172 employees; opened in 1961);
* Family Center at Riverdale, Riverdale, UT (140,000 square feet; 95 employees; opened in 2003).

Final clearance sales at these stores will begin on varying schedules within the next several weeks.

"While the decision to close stores is difficult, it is necessary that we do so selectively in locations with declining sales and where we have been unable to identify sufficient growth opportunities," said Terry J. Lundgren, chairman, president and chief executive officer of Macy's, Inc. "At the same time, we continue to open new Macy's store locations in communities where we believe we can operate successfully."

The company opened 10 new stores and one furniture gallery in 2007. In 2008, Macy's, Inc. expects to open five stores, with an additional six to eight new locations currently planned for 2009.

Associates displaced by store closings will be offered positions in nearby stores where possible. Associates who are laid off in this process will be provided severance benefits and outplacement assistance.

Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2006 sales of $27 billion. The company operates more than 850 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's and Bloomingdale's. The company also operates macys.com, bloomingdales.com and Bloomingdale's By Mail. Prior to June 1, 2007, Macy's, Inc. was known as Federated Department Stores, Inc.

All statements in this press release that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of Macy's management and are subject to significant risks and uncertainties. Actual results could differ materially from those expressed in or implied by the forward-looking statements contained in this release because of a variety of factors, including conditions to, or changes in the timing of, proposed transactions, prevailing interest rates, competitive pressures from specialty stores, general merchandise stores, manufacturers' outlets, off-price and discount stores, new and established forms of home shopping (including the Internet, mail-order catalogs and television) and general consumer spending levels, including the impact of the availability and level of consumer debt, the effect of weather and other factors identified in documents filed by the company with the Securities and Exchange Commission.

(NOTE: Additional information on Macy's, Inc., including past news releases, is available at Macy's, Inc. Press Room - Macy's, Inc.)

SOURCE: Macy's, Inc.

Who didn't see this coming??

[Midtowner]

No surprise there.

Look for a more market-appropriate tenant like "40's & Knives" to move in.

[solitude]

One thing kind of sad about that list is that I see the Sharpstown store in Houston is on the list. If I'm not mistaken, I think that was Foley's first store outside of the founding location for Foley's in downtown Houston. It was the first "real" Foley's as we knew it. Macy's, of course, bought Foley's.

[Karried]

Look for a more market-appropriate tenant like "40's & Knives" to move in.

lol - or Kevlars R Us

Just teasing.. I think the area has been really improving lately. But, it's hard to lose a reputation sometimes.

Maybe with all of the new theater and retail coming in, the surrounding neighborhoods will get a better rap.

[yukong]

What's sad is that it seems that Quail Springs is now going down the CrossRoads path.

Last night, we went out to my wife's favorite store...Eddie Bauer to find her something new. When we walked in...there was a sign at the front saying that the store was closing down the Quail location. I located an employee and asked them why they were closing. She told me that when Eddie Bauer went to renew their lease in October, they were informed that the mall had already leased their location to another store. The rumor is that it will be a "Forever 21". The employee told me that Quail management was wanting to bring in more stores that cater to the young, hip hop crowd.

Well, as we then walked around the mall, we began seeing what I had believed was coming true...there are more young hip hoppers than there are adults. I know this sounds bad, but it seems that the Latino gangs may have run the hip hop gangs off from Cross Roads, and up to Quail. It looked like a Crips/Bloods convention at Quail last night. I guess I will now have to do all my shopping at Penn Square.

[poe]

The Eddie Bauer store here in Amarillo closed for a period of time because of the same lease issue. I believe the store in Lubbock closed as well. But, they both eventually reopened in new spaces, which were nicer than the previous. So, hopefully the one at Quail Springs will do the same.

As far as Crossroads goes, it's retail dead weight.

[Architect2010]

nah... the Southsiders didnt run the B/C's off. North Side has always had more of a black population. While the South Side is well Southside territory I guess. I'll tell you B/C's are not afraid of some small time gang.

But I don't necessarily think Quail Springs is gonna go the path of crossroads. That mall is just too beautiful and has so many top tier stores. It definitely won't go the way of Crossroads anytime soon. It has stores that Crossroads never even had a chance of getting and some of them are just generic yet poular stores and if Crossroads couldn't get those stores in its Golden Years, then how was it ever going to maintain the mainstream crowd???

[Pete]

Malls all over the country are really struggling and I suspect QS is going to face new challenges with the new village concept (with IMAX) proposed north of there.

There is a big trend away from traditional department stores and boutiques and towards big box discounters. When you look at all the big chains stores that have opened up all over the city, you realize that the population has not grown enough to absorb them, so they are stealing business from others.

Many of the malls here in Southern California have been reconstructed to be "lifestyle centers" with elaborate theaters and full-scale restaurants. It's probably too late for Crossroads and the one in MWC is already gone, but QS and Penn Square are probably going to have to reinvent themselves in the near future.

[oneforone]

I think Toys R Us or Best Buy will be the next to leave the Crossroads area. Dillards will probably stick it out for awhile but not any longer than shortly after next Christmas.

[Karried]

I agree about the decline of malls .. I think it has a lot to do with convenience and the internet also. It seems lately that I can go online and do all my shopping (in my pajamas if it's late at night), have it delivered to my door, wallah.. I'm done.

But, I have to add, I'm at Quail quite often because our family enjoys movies and we live pretty close ... granted, I'm usually not there late at night, but I've never felt the presence of 'gangs'.. then again, I might not recognize them if I see them, I'm from CA.. we have real gangs there, lol.

[oneforone]

Not to wish ill will on the business of Crossroads but... I wish it would close down. I think it would be an excellent site for a hospital, a new community college or better yet a senior living center like Touchmark at Coffee Creek, Epworth Villa, Conchordia or St. Ann's.

[kmf563]

I don't see Quail being taken over by gangs. It's too far away from their "hubs". It's more likely to be run by little hoodlums and punk kids that are bored. Penn Square mall had a huge problem with this back in the early 1990s and it took a few years and some extra security but they finally got rid of that problem. Stores like Eddie Bauer lose credibility and a lot of snooty shoppers when they sell out to places like Target.

Karried - as for the gangs, you would be surprised. Not much going on around our bit of town, but Oklahoma has their own gang task force which is fulltime and very active. We have more latino, asian, and native american gangs than the blood/crip type (these are here too) but they are and can be very dangerous. In the year 2007 they have gotten smarter with identifying marks and clothing. They have implemented technology and are able to smuggle drugs and weapons much easier with the war going on in. You can do a ride along with our oklahoma city police officers anytime - try going on one with someone from the springlake or santa fe department. eek! We stay on the national mark with both major interstates going through oklahoma city. It seems to be a meeting place for both coasts which can get messy.

[Karried]

Yes, lol, I'm not dissing your gangs here!

Seriously, I know there is a gang problem in OK .. just maybe not as prevalent or obvious to someone like me who doesn't venture very far from the burbs.

When I used to sell real estate, I saw quite a bit of OK - some areas are really poverty stricken ... I tend to associate socioeconomically disadvantaged youth with a higher risk of gang membership. I've heard that they get a sense of belonging that they don't get from their parents ( who are sometimes drugged out or live a life of crime themselves). Some of that is true I imagine but some of it is just stupid choices, drugs and crime.

People ask why we chose Edmond/suburbs when we moved here... I guess this is one of the reasons.

So, when people say they see 'gangs' in Quail, it gives me a chuckle. In five years, I've never seen anything remotely close to what I saw in CA... but then again, I'm not out Fri/Sat night at the malls.... so it may be true.

I absolutely can't stand the thought of gangs, with their drive bys and retaliation killings. Such a waste of a life, youth, time and effort.

Do a gang search/crime stats in the area I used to live. I lived about 45 min from Salinas....it got really bad the years prior to us moving, so we packed up the moving van and here we are.

[masonsmomma]

I work at Penn Square and it's no different there. It's getting worse on the weekends. I do know that Penn's goal is to market to middle age women. That's why my store, Suncoast is closing, unless a miracle happens we are closing sometime in Jan. I have not heard what's moving into our location, but I think they have a buyer already set up. It's horrible, as they are eliminating movie and music stores from all the OKC malls. I'm hoping at least the Quail location stays open!

[yukong]

Karried:

We do have a much bigger gang problem here than most people know. I used to be a prosecutor, and now do criminal defense (only first degree murder) work, and several of my cases involve gang related matters. The worst gangs we have here are the Latino and Asian gangs (as far as I can see). Most of the black gangs are really pretty tame compared to the Latino gangs. Not nearly as sophisticated. Now, sometimes that lack of sophistication leads to some gang members being more dangerous because they do things that are stupid, whereas the more sophisticated gangs do their dirty work just for business. The most dangerous gang, (as rated by the FBI) is the MS13 bunch. Mara Salvatrucha. They are a vile bunch. But their violence is rarely (around here) aimed at the normal joe citizen. Unless it's for business purposes. They are very sophisticated (like the mafia), have very strict rules of operation, and use violence as a business tool, and as punishment toward their own members and those that cross them.

The gangsters that I see late evenings at Quail, are more or less wannabe gangsters. They are more a nuisance than a danger.

My real complaint earlier in this thread is that it seems that Quail is trying to cater more to that younger, hip hop crowd than to us older folks. Even in Macy's and Dillard's, I noticed the men's departments were showcasing the hip hop clothing styles up front more than the traditional stuff. I'm a traditional clothing sort. If I'm not in a suit, I'm in jeans and sweatshirts. (Normal sweatshirts). I wear my pants pulled up to my waist, my shirts don't hang down to my knees, and my ball caps all have the bill in the front and not on the sides. But hey, as I said, I'm an old guy. But there are a lot more of them as Quail than there were just a couple of years ago. But you have to go later in the evening to see them. I was there this past Thursday evening from about 7:30 till close and there were just groups of hip hoppers (4-5) per group that were just walking around, all dressed in their various hip hop garb. Not causing any real trouble, just a lot of them around in groups hanging out.

[Superhyper]

I think you'll see that activity anywhere in an area where there might not be enough for young people in the area to do. When the mall is the only real place to hang out with your peer group, of course you're going to get all sorts of undesirables. Promenade in Tulsa dealt with this in Tulsa by setting a curfew of 6 p.m. for people under 18, and slowing phasing out youth-oriented stores. I'm not entirely sure I agree with this approach, because while I agree they can be a nuisance, the mall is at least a relatively safe place for young people to be. I think the area (both Crossroads and Quail Springs) need more areas targeted at the youth crowd.

[MadMonk]

No surprise there.

Look for a more market-appropriate tenant like "40's & Knives" to move in.

That was comedy gold!

lol - or Kevlars R Us

Just teasing.. I think the area has been really improving lately. But, it's hard to lose a reputation sometimes.

Maybe with all of the new theater and retail coming in, the surrounding neighborhoods will get a better rap.

It's even harder to lose when it's true (at least the last time I visited that mall - over a year ago). It used to be one of my favorites. So sad.

What's sad is that it seems that Quail Springs is now going down the CrossRoads path.

I have to agree somewhat. My neighbor was just talking about a fight he observed there recently that looked like something out of south-central L.A. (without the firearms). Apparently, blood was spilled in that one but, nothing too serious. Security was all over it, and it was almost more than they could handle.

I agree about the decline of malls .. I think it has a lot to do with convenience and the internet also. It seems lately that I can go online and do all my shopping (in my pajamas if it's late at night), have it delivered to my door, wallah ... I'm done.

But, I have to add, I'm at Quail quite often because our family enjoys movies and we live pretty close ... granted, I'm usually not there late at night, but I've never felt the presence of 'gangs'.. then again, I might not recognize them if I see them, I'm from CA.. we have real gangs there, lol.

That's the same way I am. Throughout this entire holiday season - which besides Christmas includes two family birthdays - I never once stepped into Quail Springs Mall. I think that's a first for me. Come to think about it, the only times in the last six months that I've been in the mall was to see a movie. Online shopping is getting bigger and bigger and I think that traditional retail companies are underestimating the value people get from free shipping and no sales taxes (although the lack of a sales tax doesn't apply to online sites that have a physical presence locally).

[Karried]

Not trying to stray too far but since we were talking about gangs, I thought it was ironic that this article came out today.. courtesy of my hometown newspaper.

It's funny, people always teased us for moving out of the Bay Area ....(heard every 'hick' / 'redneck' joke known to man) like it was such a superior place to the rest of the country. It seemed that they thought we were going backwards in our lives... But most have never lived anywhere else so they can't compare.

I'm so happy with our choice to raise our children in this environment compared to that one.

http://www.mercurynews.com/localnews...nes/ci_7842785

[Karried]

And here's the other side OK:

$2.5 million to be used against gangs

By Jay F. Marks
Staff Writer
Oklahoma City officials are working together to get their money's worth out of a $2.5 million anti-gang grant. That may sound like a lot of money, but U.S. Attorney John Richter said it can dry up quickly without doing anyone any good if it is not spent wisely.


"We've done a lot of homework,” Richter said, adding they're trying to figure out how to spend that money over the next three years.
Officials are focusing their efforts in an economically depressed area on the east side of Oklahoma City, where income is half the city's average. It is also the site of a disproportionate amount of gang violence.
"It's currently the most violent area in Oklahoma City,” he said. "We start with the presumption that any level of violence is intolerable.”
Richter said he knows the grant money won't solve the city's gang problem, but he hopes it can provide a foundation for long-term investment in blighted parts of the community.

A city struggling
Richter said he noticed the city was struggling with a gang violence rise when he returned to Oklahoma City in September 2005 as U.S. attorney, but there was no coordinated effort to address it.
That changed in May 2006 with the creation of the Oklahoma City Metropolitan Gang Task Force, a two-pronged approach that includes prevention programs and increased coordination among local law enforcement agencies. But there wasn't a lot of money to bolster its efforts, he said.
The first attempt to snare a Justice Department anti-gang grant was unsuccessful, but that same application was approved in April.
Since the award was announced in a visit by former U.S. Attorney General Alberto Gonzales, Richter said officials have worked behind the scenes to figure out the best way to use the money.
The steering committee includes a cross section of community leaders, from Mayor Mick Cornett to Oklahoma City Public Schools Superintendent John Porter, as well as pastors M.L. Jemison and Theodis Manning.
Jemison and Manning head St. John Missionary Baptist Church and Divine Wisdom Worship Center, two of the churches that serve the east Oklahoma City neighborhoods that authorities are targeting in their anti-gang efforts.
Richter said community leaders like Jemison and Manning need to be involved in the anti-gang program if it is to be successful.
He said meetings so far have shown nearly universal support for additional programs that can steer young people away from gangs or help recently released prison inmates acclimate to society without returning to their criminal roots.
Such efforts may be vital. "You can't solve it all through enforcement,” Richter said.

[brianinok]

I expect an announcement from Macy's that they will open a new store at the pending lifestyle center in Norman (University Northpark) when the developer announces who will be enhabiting the center. I figure it's 2-3 years away from completion, though.

[BG918]

^ I also think Norman will have a Macy's at UNP in the next 2-3 years. I think UNP ends up causing the closures of both Crossroads and Sooner Mall in Norman and will have a mix of run-of-the-mill chain stores like you see at Crossroads and Sooner as well as some higher end stores. I'm of the opinion Crossroads should be redeveloped into a mixed-use lifestyle center and the actual mall torn down. The same goes for Sooner Mall, except not a retail center but more of a residential development. Crossroad's location is too good for there not to be a retail presence there, and once commuter rail is up and going there could be a stop there as the BNSF tracks run right next to the property.

[HOT ROD]

I echo BG!!

Hopefully Crossroads could become a regional lifestyle retail concept and tie in its transportation focus!! That would be a first in the state.

[Moondog]

Honestly, I can't imagine Crossroads ever becoming a popular place to shop ever again because of its location. It's right next to Valley Brook (aka Strip Club City) and then there's the city dump in plain sight of the mall, just to the east. The neighborhoods all around the mall are really bad, and getting worse. I've actually seen prostitutes walking the streets in that area, and if anyone's been to the Wal-Mart just down the road at 240 and Santa Fe, you'd know just how bad this area has become. I don't even feel safe driving in that area.

It's really sad that its gotten this way. I remember going to that mall when I was a teenager and it was a pretty hoppin' place. But I wouldn't step a foot in there now! The best we could realistically hope for would be for the site to be redeveloped into an office complex like Shepard Mall, or turned into an industrial park. I just don't see it as an appealing place for any retailer or business.

And in 15-20 years, we'll be saying the same things about Quail. (It's coming.) Take a drive south of Memorial and you'll find a lot of the apartment complexes have gone way down hill. 122nd & Penn has gotten a reputation as the new hood. I've talked to a lot of people who say they've moved away from that area because it's gotten so bad.

I can imagine something along the lines of a "lifestyle" center going in somewhere west of Gaillardia, off the turnpike. Or in Edmond. Something is going to be built someday that will kill Quail Springs and turn it into the new Crossroads.

[soonerliberal]

Crossroads is toast in its current form. When the most attractive building in the area is a traditional Best Buy, there are some obvious problems. Its location with Valley Brook, the landfill, and two freeways surrounding it do not provide a good opportunity for growth. The positive demographics are continuing a steady decline that began years ago, as higher incomes are moving south and west. I honestly believe Crossroads would be a good southside commuter rail hub, with some revitalized shopping in the area.

I don't think the I-240 area nor Quail Springs has an imminent death on the horizon. It is true that the area north of I-240 and west of I-35 has become Oklahoma City's own significant Hispanic district that began its decline way before the demographics began to change. However, south of 240 is still thriving with a large middle to upper class population that retail loves. Until there is more along the I-44 southwest areas, its reasonable to assume that the I-240 area will continue to be just fine. The Walmart leaves much to be desired, but that is because it is the nearest one to most people in the inner southside. If there was a Supercenter somewhere on 29th or 44th street, I imagine conditions would improve dramatically. I never have felt unsafe along I-240 or areas immediately surrounding it. There may be a few older cars driving around, but that doesn't necessarily mean each one has an owner with a 9mm ready to cap me.

As for Quail, areas in all directions have a continuing rise in income and while there are some apartments that are beginning to show their age, I do not see anything negative coming of that within the foreseeable future. 122nd and Penn is as much of a 'hood as Nichols Hills is imo. Go to the real inner city and you will see the 'hood.

[Oh GAWD the Smell!]

I feel safer around Crossroads than I do around some areas of the NW side of town. I shop in there fairly frequently (it's less than 10 minutes from my house), and I've never had a problem. I know it's on the decline and just about dead, but that doesn't mean that Dillards doesn't carry Born shoes or that I can't go in to buy my weekly 10 lbs of Jelly Bellies.

As for the area, Hispanic populations != danger. I've never had a Hispanic person cause me one bit of trouble. Not once. And I've lived in the mecca for illegals (San Diego). I've been robbed at gunpoint by a black person just off of NW Expressway though (around Britton and MacArther). Stuck a 1911 Colt in my face and took the weedeater out of the back of my truck.

People somehow think that the southside is crime-laden and has all sorts of problems. All I see is a lot of low-income people that are just trying to get by for the most part. Is there crime? Sure. But it's hardly a geographic thing. I'd rather live at SW 44th and Penn than the west side of downtown OKC.

And BG918, have you been in Sooner Fashion Mall lately? No WAY does that mall close any time soon. It's packed full of people spending money every day. Not hanging out...Spending money. Heck, even Sears is crowded there.