Macy’s recently announced plans to close its 435,000-square-foot store inside Philadelphia’s historic Wanamaker building this coming March, writes Paul Schwedelson for the Philadelphia Business Journal.

This location will be one of 65 others across the nation as part of Macy’s larger plan to shut down 150 stores through next year.

During a press conference, city officials addressed the Center City Macy’s store closing and categorized it as another chance to reimagine East Market Street.

City Councilman Mark Squilla said that while the announcement marks a sad day, it also presents an opportunity.

Macy’s announced its plans to close stores throughout the county nearly a year ago.

CEO Tony Spring said in a statement that the store closures is part of the company’s “Bold New Chapter … to allow us to focus our resources and prioritize investments in our go-forward stores.”

The Center City Macy’s occupies the first three floors of the Wanamaker building.

Its closure is the latest in a string of retail closings on East Market.

“While this marks the end of an era for Philadelphia’s retail landscape, it also signals the beginning of a new chapter, one filled with economic opportunity in our evolving real estate market,” said Alba Martinez, Philadelphia’s director of commerce.

Read more about Macy’s Center City store closing at the Philadelphia Business Journal.

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Editor’s Note: This post was originally published on PHILADELPHIA Today in January 2025.