Both Downtown Department Stores to Stay Open?
DOWNTOWN LOS ANGELES — The LA Times ran a piece today listing what stores Macy's expects to close once they complete their acquisition of Robinsons-May. Interestingly, neither the Macy's at 7th and Flower nor the Robinsons-May at 7th and Figueroa are listed. I'm not sure whether to take that as a sure sign both stores are staying open or just an omission on the Times' part.
If both stores do remain open, it will be interesting to see if Federated does some sort of a specialty store at one of the locations to reduce overlap in such a close vicinity.
David Kennedy on July 29, 2005, at 09:28AM – #1
I suspect, the L.A. Times just got it wrong on this detail. (The reporters probably don't even know the stores exist.) It doesn't make any sense for Federated to keep these two locations if Robinsons-May chain is going to be shut down. Hopefully, they'll exit one of the properties and something like a Target will take over the site. Target has started opening stores in more urban locations. They have a store in Pasadena on Colorado where they took over an abandoned department store. There is now a Target in West Hollywood. The location is very urban and as far as I can tell, the store is very successful. Downtown could definitely use a Target. If they did the parking right, I'm confident a Target in one of these locations (probably the Macy's site because of the larger site) would be very successful.
Eric Richardson (@blogdowntown) on July 29, 2005, at 10:31AM – #2
I think your reading is definitely possible. I don't know the details of the lease at 7th+Fig, but I know there are requirements in the Macy's Plaza lease that Macy's continue operating there. My only guess if the Times is correct is that there's a similar sort of restriction at 7th+Fig as well. -e;
Jannie on July 29, 2005, at 05:45PM – #3
Coincidentally enough, the Target you mention in Pasadena is located where a free-standing Robinson's store once operated. I notice nothing has been said about the large Robinson's-May location at South Coast Plaza in Costa Mesa, which probably rakes in a lot of money and shares the mall with a Macy's.