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Sears, Macy’s, Kmart closing stores in all corners of Idaho

Sears is closing 39 stores, including those in Twin Falls and Coeur d'Alene.

Sears is closing 39 stores, including those in Twin Falls and Coeur d’Alene. File photo.

Magic Valley Mall in Twin Falls will lose two of its four anchors and Silver Lake Mall will lose one of its three anchors in the next few months as Macy’s and Sears move forward with dozens of closures across the country.

Macy’s will begin its clearance sale Jan. 8 in Twin Falls followed by Sears liquidation sales starting as soon as Jan. 12 in Twin Falls and at the Silver Lake Mall in Coeur d’Alene, according to company releases.

In addition, the Kmart store in Ammon is expected to close by the end of January. Sears Holdings owns Sears and Kmart. Boise lost its Kmart in March 2016.

Twin Falls Mayor Shawn Barigar, who is also CEO of the Twin Falls Chamber of Commerce, is leaning on the half-full glass philosophy.

“My initial reaction is it’s the changing face of the retail market,” Barigar said. “We still have robust retail development but it’s happening in different ways.”

In a similar approach to Barigar, The Woodbury Corp., which owns the Magic Valley Mall, said in a statement:  “As consumer tastes and interests have changed over time, we relish opportunities to bring fresh retailers to Magic Valley Mall. The recent announcement of the closure of Macy’s and Sears have provided us with those opportunities, and we are in discussions with several exciting retailers to take the space. We anticipate announcing the details on these new tenants very soon.”

Sears Holdings announced Jan. 4 that it will close 64 Kmart stores and 39 Sears stores between early March and early April. The company sites closing unprofitable stores as it seeks to balance its physical stores and digital capabilities.

Sears has a combination of 17 locations, including stores, hometown stores, outlet stores, hardware stores, and auto centers in Idaho.

Meanwhile, Macy’s plans to close 11 stores, including the Twin Falls store, in mid to late March.

The Twin Falls closure is part of a multi-year national reevaluation of Macy’s stores that has resulted in the closure of 124 stores since 2015 that swept up Moscow (April 2016) and Nampa (April 2017) and in prior years downtown Boise (2010). Macy’s will have four remaining Idaho stores in Boise, Idaho Falls, Lewiston and Coeur d’Alene.

“These closures are part of a multi-year effort by the company to ensure the optimal mix of brick and mortar stores and digital footprint,” Macy’s said in a statement. “With these closures, the company will have completed 81 of the approximately 100 planned store closures announced in August 2016. The company intends to close approximately 19 additional stores as leases or operating covenants expire or sale transactions are completed.”

Macy’s 61,000-square-foot Twin Falls store opened in 1987, the year following the opening of the Magic Valley Mall, which is owned by Woodbury Corp., the Salt Lake City developer that also owns Canyon Park West, Canyon Park East and Target Center, all within sight of the mall.

The Twin Falls store is in the same closure cycles as Macy’s stores in high-profile locations as Stonestown Galleria in  San Francisco; Westside Pavilion in  Los Angeles; Laguna Hills Mall in  Laguna Hills, Calif.; downtown Miami; and other stores in Novato, Calif.,  Gainesville, Fla., Terre Haute, Ind., Fort Gratiot Township, Mich., Burlington, Vt., and Cincinnati.

New York City-based Rouse Properties owns Silver Lake Mall in Coeur d’Alene and, in total, 36 malls in 21 states. Rouse had anticipated and planned for a potential Sears closure, according to a company statement.

“We have a successful track record of filling vacant spaces with a variety of prominent high-volume retailers of all types,” the Rouse statement said. “We plan to do the same with the vacated Sears box at Silver Lake Mall, as we very much are committed to the long-term success of this property.”

Editor’s note: This story was updated with Rouse Propeties comments about the Silver Lake Mall at 2:40 p.m. on Jan. 5, 2018.

 

About Teya Vitu

Teya Vitu is an Idaho Business Review reporter, covering commercial real estate, construction, transportation and whatever else may intrigue him in the moment. Join me on Twitter at @IBR_TeyaVitu.