Bloomingdale's Mall of America location to close
|For the first time, the MoA is losing one of its anchor stores.|
Cincinnati-based Macy's announced today that it is closing the Bloomingdale's store at the MoA after a 20-year run.
Bloomingdale's 210,000 square-foot MoA location is one of the mall's original anchor tenants, along with Macy's, Nordstrom, and Sears. Dave Brennan, co-director of the Institute for Retailing Excellence at St. Thomas, told the Minneapolis/St. Paul Business Journal that the closure symbolizes that upscale department stores haven't "gotten as much traction as they expected in this market."
|Bloomingdale's has 41 stores throughout the country, but at least two of them are closing.|
News of the closure is a concerning development for MoA management. The Biz Journal writes that mall tenants sometimes have provisions that entitle them to reduced rents if an anchor goes dark, and the huge Bloomingdale's space is probably too large for discount-orientated retailers like Herberger's or Kohl's.
Macy's and Bloomingdale's spokespeople have refused to provide additional comment ahead of a 3 p.m. press conference.