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Investor holds on to hope for Macy’s building

Blake Allen, who owns Allen Realty in Manitou Springs, is unfazed by the The Citadel mall’s woes and is buying the vacant Macy’s building in hopes of staging a retail comeback. Investors and retailers, however, aren’t convinced. He has been in the process of buying the building since March and hopes to close at the… Continue Reading Investor holds on to hope for Macy’s building

Macy’s 1Q earnings soar

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Macy’s Inc.’s first-quarter earnings soared because of rising revenue, tight expense controls and its efforts to tailor merchandise by region. The department store chain also said Wednesday that it is doubling its quarterly dividend and raising its full-year earnings and sales outlook. Macy’s reported net income of $131 million, or 30 cents per share, in… Continue Reading Macy’s 1Q earnings soar

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Macy’s Inc. plans to fill about 725 new positions over the next two years to assist with the growth of its online business. Online sales have been of increasing importance to retailers as more and more people are deciding to shop online due to the convenience, as well as to take advantage of discounts and… Continue Reading Macy’s to add 725 jobs to help with online growth

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The 185,000-square-foot former two-story Macy’s building at 755 Citadel Drive – vacant since first quarter 2009 – has sold to ICA Properties Inc. of Odessa, Texas. The building, formerly owned by Macy’s West Stores Inc., sold for $3 million today, according to Bach Commercial Partners broker Steve Bach who, along with Mike Helwege, represented the… Continue Reading Citadel Macy’s building sells to Texas group

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Macy’s closes five stores

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Macy’s has announced it is closing five of its stores as part of an ongoing process to prune underperforming stores while also opening new locations in promising markets. The company, which operates 809 Macy’s and 40 Bloomingdales stores nationwide, will close Macy’s locations in Boise, Idaho; Waterford Mich.; St. Ann, Mo.; Missoula, Mont. and Burlington,… Continue Reading Macy’s closes five stores

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