A Massive Mall Retailer Is Now Closing in California

A massive mall retailer is now closing in California due to an unfortunate surge in theft, staff is now reporting.

Staff at a Macy’s store have pointed to soaring crime as the prime reason for multiple store closures.

Employees at the retailer in San Francisco’s Union Square neighborhood say rampant shoplifting is to blame for the retailer closing its doors at the Bay Area outlet, reports The-Sun.

It comes after Macy’s announced that it would cut its workforce by 3.5%, or roughly 2,350 positions in January.

Macy’s announces that they plan to close five mall-based anchor stores, after at least 80 locations shut last year.

It added that it plans to shutter 150 locations over the next three years.

“It happens every day,” Union Square employee Steve Dalisay told the Standard.

The worker added that wallets and boxer briefs are the most snatched items, while at least four blazers are scooped by thieves daily.

“I think there just needs to be leadership,” Dalisay said. “The mayor just needs to say we won’t tolerate this in the city.”

A second employee of more than a decade said spiraling theft was the main reason for multiple store closures.

“It’s the theft, and that people aren’t coming in,” said the worker.

“Basically, the same thing that happened to Nordstrom is happening to us.”

A third worker added, “I’m not in charge of making the estimates of how much we lose in a day, but last year we were told the losses were in the millions.

“It’s a big thing. “What we have learned is a lot of drug users have deals with the fencers.

“They’ll give the drug users a list of stuff from the store, and they’ll go try to execute the list.”

Teens, he added, typically frequent the outlet’s fragrance department.

“The juveniles will come in in teams and try to grab the fragrance boxes,” he said.

“Recently, one of them was able to steal a pair of Fendi sunglasses that are priced around $2,000.”

Many shoppers were surprised to see that the Union Square location was on the list of stores to be closed.

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Also Read: A Massive Cosmetics Company Now Closes in New York

Other Economy News Today

Market News Today - A Massive Mall Retailer Is Now Closing in California.
Market News Today – A Massive Mall Retailer Is Now Closing in California.

California continues to have massive resident departures per a new report conducted in 2024 by the PPIC.

“California continues to lose residents to other states, as high housing costs and the flexibility of remote work have made other locations more attractive,” stated Public Policy Institute of California.

The main beneficiaries have been neighboring states, though high income earners have also shown a modest preference for states without an income tax, according to the report.

But as the pandemic has receded and more workers have been asked to report to the office in person, these patterns have begun to slow or even reverse.

During the worst of the pandemic, neighboring states—Arizona, Idaho, Nevada, and Oregon—saw the highest rates of former California residents move in. (Net migration to Texas was also heavy, though not disproportionate to the state’s size.)

The pattern is similar for 2022: Arizona, Idaho, and Nevada still received disproportionate net migration from California, according to recently released census data. (Most other states have flows too small to distinguish from zero.)

A total of 343,000 people left California and moved to another state in 2022, the highest number of any state in the country, reported the US Census Bureau.

Of those leaving California, 102,000 moved to Texas74,000 to Arizona50,000 to Florida, and 48,000 to Nevada.

One notable reversal: California now has a net gain from Hawaii, which was a popular destination for remote workers during the pandemic but is now losing people to the Golden State.

California Resident Departures.
California Resident Departures.

Overall, the destination states for former Californians are broadly unchanged, though states that gained the most at the outflow’s peak have seen the largest reversions now that the worst of the pandemic is behind us.

All the same, a reversion to even the pre-pandemic status quo still means lots of migration to states like Arizona, Nevada, Oregon, and Texas.

And with the continuing flexibility of remote work and persistently high housing costs, high outmigration will likely be a part of California’s reality for the foreseeable future–with potentially far-reaching consequences for the state’s economic, social, and political makeup, reports PPIC.

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Also Read: Florida Now Has Massive Departures As Hundreds of Thousands Leave

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Market News Today - A Massive Mall Retailer Is Now Closing in California.
Market News Today – A Massive Mall Retailer Is Now Closing in California.

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