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After almost 90 years in business, the historic Macy's downtown location in the Railway Exchange Building on Olive and 7th Streets will close this August.
The announcement came as somewhat of a surprise earlier today, as just two years ago the store underwent renovations, which included downsizing to three levels.
Macy's chief stores officer Peter Sachse offered this explanation: “We deeply appreciate the loyalty of our downtown store customers, the diligence of our associates, and the concern and support of Mayor Slay and his administration over the years. We have worked hard to reinvigorate our downtown business, including remodeling, downsizing and re-focusing the store in 2011. But unfortunately, the level of customer activity we see no longer justifies keeping the store open. We respect the rich history of this store and the historic significance of the Railway Exchange Building. We are committed to working closely with RNY-LLC, the building’s owner, on an orderly transition of our space to a new use"
A clearance sale will begin on June 2 and is expected to last for 10 weeks.