Huge Retailer in Maine Announces Nationwide Closings

This once-retail juggernaut has announced another round of store closures. With only one store left in Maine, how will this affect our Pine Tree State?

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Maine has no shortage of 'retail therapy' outlets. While there are certainly fewer options than twenty years ago, the same can be said for everywhere else.

For the most part, retail outlets that have been replaced or redistributed have found a new home online. With seemingly infinite options on the internet, it's not like we're really missing out, right? Stores find ways to pivot, and we still have alternatives.

But which retailer with a location left in Maine has announced these closings?

Macy's has announced plans to close 150 underperforming stores by the end of 2026, including 50 by the end of 2024, following a 2023 fourth-quarter loss and declining sales. The company aims to enhance its remaining 350 stores by adding more salespeople and visual displays, while also focusing on luxury offerings, announcing plans to open 15 Bloomingdale’s and 30 Bluemercury stores.

Despite accounting for 25% of overall square footage, the closing stores contribute less than 10% of Macy’s sales. This marks the second-largest round of store closures since February 2020 when Macy’s announced the closure of 125 stores and cut 2,000 corporate jobs.

According to the Portland Press Herald, Macy’s does not plan to close its only location in Maine, at the Maine Mall in South Portland, a location that had once been occupied by the former Jordan Marsh store. Jordan Marsh was the first store to be built at the Maine Mall in 1969.

With the talks of upgrades and enhancements, it’s still unclear what changes could come to our lone Pine Tree State store location.