Phoenix Paradise Valley Mall To Lose Another Department Store
Another Phoenix mall is about to lose a major department store.
Macy’s will soon close its store at Cactus Road and Tatum Boulevard. The Paradise Valley Mall location is among 36 Macy’s stores scheduled to close this year. Last year, Macy’s closed a store in Tucson.
Database company Statista ranked Macy’s as the biggest U.S. department store in 2019 with sales topping more than $24 billion.
In early 2020, the chain, which includes Bloomingdale’s, announced plans to close 125 locations over a three-year period. In a statement to KJZZ, the company said:
As previously announced, Macy’s Inc. is committed to rightsizing our store fleet by concentrating our existing retail locations in desirable and well-trafficked A and B malls. To that end, we announced several store closures today that align with the guidance we provided in February 2020. These closures bring us closer to achieving the right mix of mall-based stores, accompanied by our digital footprint.
Last November, when KJZZ reported on a preliminary redevelopment plan for Paradise Valley Mall, the assumption was Macy’s would stay. According to Phoenix’s Planning and Development Director Alan Stephenson the plan was for Costco, Macy’s and JCPenney to remain at the mall. Sears closed its Paradise Valley mall location in 2019 and Dillard’s planned to close at the end of 2020.
The redevelopment project, led by current mall owner Macerich and Phoenix-based Red Development calls for a mix of retail, office and multi-family residential for the 75-acre site.