Macy’s Signals Minneapolis Store Less Likely to be Closed
MINNEAPOLIS (AP) - Macy's has signaled that its downtown Minneapolis department store likely will be saved.
The retailer said Wednesday it is seeking partners to redevelop the Nicollet Mall building along with several others in its portfolio.
In announcing its third-quarter results, Macy's executives dispelled fears that the company might close the Minneapolis store, as it did its store in downtown St. Paul two years ago and another landmark store in downtown Pittsburgh this summer.
Reports say executives have put Minneapolis in the camp of "Macy's flagship real estate assets" along with its store locations in Manhattan at Herald Square, San Francisco at Union Square and Chicago on State Street.
The Cincinnati company is looking to form joint ventures with real estate partners to redevelop these four key locations.